Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) Shares Break Below 50-Day Moving Average – Here’s Why

Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) shares passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $25.74 and traded as low as $25.53. Invesco Taxable Municipal Bond ETF shares last traded at $25.55, with a volume of 198,642 shares changing hands.

Invesco Taxable Municipal Bond ETF Stock Performance

The firm has a 50-day moving average price of $25.74 and a two-hundred day moving average price of $26.56. The firm has a market cap of $866.14 million, a price-to-earnings ratio of -202.23 and a beta of 0.30.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BAB. Annex Advisory Services LLC lifted its position in Invesco Taxable Municipal Bond ETF by 4.8% in the second quarter. Annex Advisory Services LLC now owns 3,331,378 shares of the company’s stock valued at $89,414,000 after acquiring an additional 151,384 shares during the last quarter. Gould Asset Management LLC CA grew its holdings in shares of Invesco Taxable Municipal Bond ETF by 2.2% during the first quarter. Gould Asset Management LLC CA now owns 668,113 shares of the company’s stock worth $18,012,000 after purchasing an additional 14,255 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. grew its holdings in shares of Invesco Taxable Municipal Bond ETF by 1.9% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 649,822 shares of the company’s stock worth $16,440,000 after purchasing an additional 11,889 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in shares of Invesco Taxable Municipal Bond ETF by 8.5% during the second quarter. Tortoise Investment Management LLC now owns 464,700 shares of the company’s stock worth $12,473,000 after purchasing an additional 36,222 shares during the last quarter. Finally, NewEdge Wealth LLC increased its position in shares of Invesco Taxable Municipal Bond ETF by 5.2% during the first quarter. NewEdge Wealth LLC now owns 257,158 shares of the company’s stock worth $6,933,000 after purchasing an additional 12,776 shares in the last quarter.

About Invesco Taxable Municipal Bond ETF

PowerShares Build America Bond Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of an index called The BofA Merrill Lynch Build America Bond Index (the Index). The Fund will normally invests at least 80% of its total assets in the securities that comprise the Index. The Index is designed to track the performance of the United States dollar-denominated Build America Bonds publicly issued by the United States and territories, and their political subdivisions, in the United States market.