VanEck High Yield Muni ETF (BATS:HYD) Sets New 52-Week Low – Here’s Why

VanEck High Yield Muni ETF (BATS:HYD) reached a new 52-week low on Monday. The stock traded as low as $47.79 and last traded at $47.6340, with a volume of 5392 shares. The stock had previously closed at $48.30.

VanEck High Yield Muni ETF Stock Performance

The firm has a 50 day moving average of $49.84 and a two-hundred day moving average of $50.59.

Institutional Investors Weigh In On VanEck High Yield Muni ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its holdings in VanEck High Yield Muni ETF by 1.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 433,620 shares of the company’s stock valued at $22,336,000 after purchasing an additional 7,347 shares during the period. Talon Private Wealth LLC acquired a new position in shares of VanEck High Yield Muni ETF during the second quarter valued at about $1,081,000. IFP Advisors Inc lifted its stake in shares of VanEck High Yield Muni ETF by 45.0% in the second quarter. IFP Advisors Inc now owns 8,379 shares of the company’s stock valued at $432,000 after buying an additional 2,602 shares during the period. Baird Financial Group Inc. lifted its stake in shares of VanEck High Yield Muni ETF by 5.7% in the second quarter. Baird Financial Group Inc. now owns 13,227 shares of the company’s stock valued at $681,000 after buying an additional 719 shares during the period. Finally, Hudock Inc. acquired a new stake in VanEck High Yield Muni ETF during the second quarter worth about $206,000.

About VanEck High Yield Muni ETF

The VanEck High Yield Muni ETF (HYD) is an exchange-traded fund that mostly invests in high yield fixed income. The fund tracks a market value-weighted index of high-yield, tax-exempt US municipal bonds. HYD was launched on Feb 4, 2009 and is managed by VanEck.