AB California Intermediate Municipal ETF (NYSEARCA:CAM) Sees Unusually-High Trading Volume – Should You Buy?

AB California Intermediate Municipal ETF (NYSEARCA:CAM) saw unusually-high trading volume on Tuesday. 111,767 shares changed hands during trading, a decline of 17% from the previous session’s volume of 134,338 shares. The stock last traded at $24.1450 and had previously closed at $24.13.

AB California Intermediate Municipal ETF Stock Performance

The firm’s 50-day moving average price is $24.52 and its two-hundred day moving average price is $24.84. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 7.49 and a beta of -0.41.

Institutional Trading of AB California Intermediate Municipal ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tortoise Investment Management LLC acquired a new position in AB California Intermediate Municipal ETF in the 2nd quarter valued at about $224,000. NWF Advisory Services Inc. purchased a new stake in AB California Intermediate Municipal ETF during the second quarter worth about $213,000. Bank of America Corp DE lifted its position in shares of AB California Intermediate Municipal ETF by 7.8% during the first quarter. Bank of America Corp DE now owns 362,698 shares of the oil and gas company’s stock worth $9,056,000 after purchasing an additional 26,157 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of AB California Intermediate Municipal ETF in the first quarter valued at approximately $311,000. Finally, Retirement Planning Group LLC purchased a new position in shares of AB California Intermediate Municipal ETF in the first quarter valued at approximately $513,000. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

About AB California Intermediate Municipal ETF

Cameron International Corporation (Cameron), incorporated on November 10, 1994, provides flow equipment products, systems and services to worldwide oil, gas and process industries. The Company operates through four business segments: Subsea, Surface, Drilling and Valves & Measurement (V&M). The Subsea segment delivers integrated solutions, products, systems and services to the subsea oil and gas market, including integrated subsea production systems. Cameron’s Surface segment designs and manufactures wellhead and Christmas tree systemsfor onshore and offshore topside applications – from conventional to high-pressure, high temperature systems, to specialized systems for dry completions and heavy oil.