VanEck Intermediate Muni ETF (BATS:ITM) Reaches New 1-Year Low – Time to Sell?

VanEck Intermediate Muni ETF (BATS:ITM) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $44.28 and last traded at $44.3050, with a volume of 398208 shares trading hands. The stock had previously closed at $44.43.

VanEck Intermediate Muni ETF Price Performance

The business has a 50 day simple moving average of $45.71 and a 200 day simple moving average of $46.40.

Institutional Investors Weigh In On VanEck Intermediate Muni ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of VanEck Intermediate Muni ETF by 96.0% in the first quarter. Blue Trust Inc. now owns 633 shares of the company’s stock worth $29,000 after acquiring an additional 310 shares during the last quarter. Compass Financial Management LLC bought a new stake in shares of VanEck Intermediate Muni ETF during the second quarter valued at approximately $53,000. International Assets Investment Management LLC increased its holdings in shares of VanEck Intermediate Muni ETF by 67.9% in the first quarter. International Assets Investment Management LLC now owns 1,204 shares of the company’s stock valued at $56,000 after purchasing an additional 487 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of VanEck Intermediate Muni ETF in the second quarter valued at approximately $67,000. Finally, Continuum Advisory LLC bought a new position in VanEck Intermediate Muni ETF in the 2nd quarter worth approximately $123,000.

About VanEck Intermediate Muni ETF

The VanEck Intermediate Muni ETF (ITM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market value-weighted index of investment grade, tax-exempt US municipal bonds with nominal maturities of 6-17 years. ITM was launched on Dec 4, 2007 and is managed by VanEck.