iShares New York Muni Bond ETF (NYSEARCA:NYF) Sees Significant Drop in Short Interest

iShares New York Muni Bond ETF (NYSEARCA:NYF) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 43,334 shares, a decline of 36.7% from the June 15th total of 68,415 shares. Based on an average trading volume of 139,060 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

iShares New York Muni Bond ETF Stock Performance

NYSEARCA:NYF opened at $53.45 on Friday. iShares New York Muni Bond ETF has a 1 year low of $51.58 and a 1 year high of $54.52. The stock’s fifty day moving average price is $53.57 and its two-hundred day moving average price is $53.66.

Institutional Trading of iShares New York Muni Bond ETF

Institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC grew its holdings in iShares New York Muni Bond ETF by 45.1% during the 1st quarter. Root Financial Partners LLC now owns 1,110 shares of the company’s stock valued at $59,000 after buying an additional 345 shares in the last quarter. WealthShield Partners LLC purchased a new stake in shares of iShares New York Muni Bond ETF in the fourth quarter worth about $90,000. CIBC Private Wealth Group LLC bought a new position in shares of iShares New York Muni Bond ETF in the fourth quarter valued at approximately $188,000. Quadrant Private Wealth Management LLC bought a new position in shares of iShares New York Muni Bond ETF in the fourth quarter valued at approximately $201,000. Finally, LVW Advisors LLC purchased a new position in iShares New York Muni Bond ETF during the fourth quarter valued at approximately $202,000.

About iShares New York Muni Bond ETF

iShares New York AMT-Free Muni Bond ETF, formerly iShares S&P New York AMT-Free Municipal Bond Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P AMT-Free Municipal Series 2016 IndexTM (the Index). The Underlying Index measures the performance of investment-grade, noncallable United States municipal bonds maturing in 2016. The Index includes municipal bonds primarily from issuers that are state or local governments or agencies such that the interest on the bonds is exempt from United States federal income taxes and the federal alternative minimum tax (AMT).