AB Tax-Aware Intermediate Municipal ETF (NYSEARCA:TAFM) Sees Large Drop in Short Interest

AB Tax-Aware Intermediate Municipal ETF (NYSEARCA:TAFM) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 47,967 shares, a drop of 58.9% from the September 15th total of 116,845 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 438,404 shares, the days-to-cover ratio is currently 0.1 days.

AB Tax-Aware Intermediate Municipal ETF Stock Up 0.7%

AB Tax-Aware Intermediate Municipal ETF stock traded up $0.16 during midday trading on Tuesday, reaching $24.11. The stock had a trading volume of 810,719 shares, compared to its average volume of 254,784. The firm’s fifty day simple moving average is $24.67 and its 200-day simple moving average is $25.16. AB Tax-Aware Intermediate Municipal ETF has a 1-year low of $23.72 and a 1-year high of $25.93.

Hedge Funds Weigh In On AB Tax-Aware Intermediate Municipal ETF

Several hedge funds have recently made changes to their positions in TAFM. Aletheian Wealth Advisors LLC acquired a new stake in shares of AB Tax-Aware Intermediate Municipal ETF in the third quarter valued at approximately $207,000. Leverty Financial Group LLC boosted its holdings in AB Tax-Aware Intermediate Municipal ETF by 217.1% during the third quarter. Leverty Financial Group LLC now owns 238,217 shares of the company’s stock worth $5,715,000 after purchasing an additional 163,099 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in AB Tax-Aware Intermediate Municipal ETF by 18.7% during the second quarter. Envestnet Asset Management Inc. now owns 333,965 shares of the company’s stock worth $8,576,000 after purchasing an additional 52,703 shares during the last quarter. NorthRock Partners LLC grew its position in AB Tax-Aware Intermediate Municipal ETF by 211.8% in the second quarter. NorthRock Partners LLC now owns 3,874,626 shares of the company’s stock valued at $99,500,000 after purchasing an additional 2,632,091 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in AB Tax-Aware Intermediate Municipal ETF by 4.8% in the 2nd quarter. NewEdge Advisors LLC now owns 34,774 shares of the company’s stock valued at $893,000 after buying an additional 1,595 shares during the last quarter.

About AB Tax-Aware Intermediate Municipal ETF

The AB Tax-Aware Intermediate Municipal ETF (TAFM) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed ETF that primarily invests in investment grade municipal bonds from the US. The fund seeks to maintain an effective duration of 4 to 7 years TAFM was launched on Dec 13, 2023 and is issued by AB Funds.