VanEck Intermediate Muni ETF (BATS:ITM) Hits New 12-Month High – Time to Buy?

Shares of VanEck Intermediate Muni ETF (BATS:ITM) hit a new 52-week high on Monday . The stock traded as high as $47.59 and last traded at $47.5650, with a volume of 109106 shares traded. The stock had previously closed at $47.55.

VanEck Intermediate Muni ETF Stock Down 0.0%

The business’s 50 day moving average price is $47.24 and its 200-day moving average price is $46.70.

VanEck Intermediate Muni ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, February 5th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.117 per share. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, February 2nd.

Institutional Investors Weigh In On VanEck Intermediate Muni ETF

Several institutional investors and hedge funds have recently modified their holdings of ITM. Choreo LLC grew its holdings in shares of VanEck Intermediate Muni ETF by 136.0% in the second quarter. Choreo LLC now owns 38,564 shares of the company’s stock valued at $1,754,000 after purchasing an additional 22,225 shares in the last quarter. FOCUS Wealth Advisors LLC lifted its holdings in VanEck Intermediate Muni ETF by 14.2% during the 3rd quarter. FOCUS Wealth Advisors LLC now owns 178,232 shares of the company’s stock worth $8,306,000 after buying an additional 22,220 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in VanEck Intermediate Muni ETF in the 2nd quarter valued at approximately $4,105,000. CX Institutional grew its stake in shares of VanEck Intermediate Muni ETF by 27.3% in the third quarter. CX Institutional now owns 917,714 shares of the company’s stock worth $42,765,000 after acquiring an additional 196,693 shares in the last quarter. Finally, Mather Group LLC. increased its position in shares of VanEck Intermediate Muni ETF by 3.0% during the third quarter. Mather Group LLC. now owns 460,689 shares of the company’s stock worth $21,468,000 after acquiring an additional 13,568 shares during the period.

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.