VanEck Intermediate Muni ETF (BATS:ITM) Short Interest Update

VanEck Intermediate Muni ETF (BATS:ITM) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 151,719 shares, a growth of 832.5% from the August 31st total of 16,271 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 758,807 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On VanEck Intermediate Muni ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITM. Northwestern Mutual Wealth Management Co. grew its position in shares of VanEck Intermediate Muni ETF by 10.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,239,352 shares of the company’s stock valued at $199,928,000 after purchasing an additional 394,734 shares in the last quarter. TIAA Trust National Association boosted its stake 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 worth $40,656,000 after buying an additional 357,608 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in VanEck Intermediate Muni ETF by 24.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,356,868 shares of the company’s stock worth $63,759,000 after buying an additional 268,374 shares during the last quarter. Bank of America Corp DE grew its holdings in VanEck Intermediate Muni ETF by 0.7% in the 1st quarter. Bank of America Corp DE now owns 16,468,733 shares of the company’s stock valued at $764,643,000 after buying an additional 121,958 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new stake in shares of VanEck Intermediate Muni ETF in the 1st quarter worth $5,026,000.

VanEck Intermediate Muni ETF Stock Down 0.4%

Shares of ITM stock opened at $44.24 on Friday. The stock has a 50 day simple moving average of $45.66 and a 200-day simple moving average of $46.38. VanEck Intermediate Muni ETF has a 1-year low of $44.20 and a 1-year high of $48.02.

About VanEck Intermediate Muni ETF

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.