Vanguard Tax-Exempt Bond ETF (NYSEARCA:VTEB) Sets New 1-Year High – Still a Buy?

Vanguard Tax-Exempt Bond ETF (NYSEARCA:VTEB) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $50.92 and last traded at $50.8750, with a volume of 2236044 shares trading hands. The stock had previously closed at $50.77.

Vanguard Tax-Exempt Bond ETF Trading Up 0.1%

The company has a 50 day moving average price of $50.43 and a 200 day moving average price of $50.04.

Vanguard Tax-Exempt Bond ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were paid a $0.1398 dividend. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, February 2nd.

Institutional Investors Weigh In On Vanguard Tax-Exempt Bond ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of Vanguard Tax-Exempt Bond ETF by 39.8% in the second quarter. JPMorgan Chase & Co. now owns 108,048,493 shares of the company’s stock worth $5,297,618,000 after buying an additional 30,774,028 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Vanguard Tax-Exempt Bond ETF by 2.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 36,651,506 shares of the company’s stock worth $1,843,204,000 after acquiring an additional 903,850 shares during the last quarter. Creative Planning boosted its stake in shares of Vanguard Tax-Exempt Bond ETF by 2.7% in the 2nd quarter. Creative Planning now owns 26,851,781 shares of the company’s stock valued at $1,316,543,000 after purchasing an additional 702,763 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in Vanguard Tax-Exempt Bond ETF by 8.5% during the 4th quarter. Wealthfront Advisers LLC now owns 24,153,510 shares of the company’s stock worth $1,214,680,000 after acquiring an additional 1,889,400 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Vanguard Tax-Exempt Bond ETF by 1.8% in the third quarter. Raymond James Financial Inc. now owns 22,217,280 shares of the company’s stock valued at $1,112,419,000 after purchasing an additional 386,204 shares in the last quarter.

Vanguard Tax-Exempt Bond ETF Company Profile

The Vanguard Tax-Exempt Bond ETF (VTEB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-weighted index of investment-grade debt issued by state and local governments and agencies. Interest is exempt from US income tax and from AMT. VTEB was launched on Aug 21, 2015 and is managed by Vanguard.