VanEck Intermediate Muni ETF (BATS:ITM) Hits New 12-Month Low – Here’s Why

VanEck Intermediate Muni ETF (BATS:ITM) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $44.73 and last traded at $44.7180, with a volume of 90702 shares changing hands. The stock had previously closed at $44.96.

VanEck Intermediate Muni ETF Stock Performance

The stock’s 50 day moving average price is $45.86 and its two-hundred day moving average price is $46.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITM. PNC Financial Services Group Inc. lifted its stake in shares of VanEck Intermediate Muni ETF by 1,089,300.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,788 shares of the company’s stock worth $1,028,000 after purchasing an additional 21,786 shares during the period. Brandywine Oak Private Wealth LLC raised its position in shares of VanEck Intermediate Muni ETF by 11.7% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 103,145 shares of the company’s stock worth $4,789,000 after buying an additional 10,794 shares during the period. TIAA Trust National Association grew its position in VanEck Intermediate Muni ETF by 70.9% during the fourth quarter. TIAA Trust National Association now owns 862,097 shares of the company’s stock valued at $40,656,000 after acquiring an additional 357,608 shares during the period. Royal Bank of Canada raised its holdings in shares of VanEck Intermediate Muni ETF by 41.0% in the 1st quarter. Royal Bank of Canada now owns 140,842 shares of the company’s stock worth $6,539,000 after purchasing an additional 40,948 shares during the period. Finally, LCW Services LLC acquired a new position in shares of VanEck Intermediate Muni ETF in the 4th quarter valued at about $1,573,000.

VanEck Intermediate Muni ETF Company Profile

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.