iShares New York Muni Bond ETF (NYSEARCA:NYF) Sees Large Volume Increase – Still a Buy?

Shares of iShares New York Muni Bond ETF (NYSEARCA:NYF) saw an uptick in trading volume on Thursday. 747,321 shares changed hands during trading, an increase of 183% from the previous session’s volume of 263,815 shares. The stock last traded at $51.6140 and had previously closed at $51.21.

iShares New York Muni Bond ETF Stock Up 0.9%

The firm has a 50 day simple moving average of $51.59 and a 200-day simple moving average of $52.80.

Institutional Trading of iShares New York Muni Bond ETF

Several hedge funds have recently modified their holdings of the company. NBT Bank N.A. purchased a new position in shares of iShares New York Muni Bond ETF in the 3rd quarter worth approximately $4,828,000. Root Financial Partners LLC bought a new position in shares of iShares New York Muni Bond ETF during the 3rd quarter worth approximately $321,000. Carnegie Investment Counsel bought a new position in shares of iShares New York Muni Bond ETF during the 3rd quarter worth approximately $2,825,000. Sterling Investment Counsel LLC lifted its position in iShares New York Muni Bond ETF by 456.5% during the third quarter. Sterling Investment Counsel LLC now owns 40,839 shares of the company’s stock valued at $2,063,000 after acquiring an additional 33,501 shares during the last quarter. Finally, Opal Wealth Advisors LLC lifted its position in iShares New York Muni Bond ETF by 19.0% during the third quarter. Opal Wealth Advisors LLC now owns 11,749 shares of the company’s stock valued at $594,000 after acquiring an additional 1,876 shares during the last quarter.

About iShares New York Muni Bond ETF

iShares New York AMT-Free Muni Bond ETF, formerly iShares S&P New York AMT-Free Municipal Bond Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P AMT-Free Municipal Series 2016 IndexTM (the Index). The Underlying Index measures the performance of investment-grade, noncallable United States municipal bonds maturing in 2016. The Index includes municipal bonds primarily from issuers that are state or local governments or agencies such that the interest on the bonds is exempt from United States federal income taxes and the federal alternative minimum tax (AMT).