SPDR Nuveen ICE Short Term Municipal Bond ETF (NYSEARCA:SHM) Sees Large Volume Increase – Here’s What Happened

SPDR Nuveen ICE Short Term Municipal Bond ETF (NYSEARCA:SHM) shares saw unusually-strong trading volume on Wednesday . Approximately 881,578 shares traded hands during trading, an increase of 181% from the previous session’s volume of 313,656 shares.The stock last traded at $47.68 and had previously closed at $47.65.

SPDR Nuveen ICE Short Term Municipal Bond ETF Stock Performance

The firm has a 50-day moving average price of $47.90 and a 200-day moving average price of $48.04.

Hedge Funds Weigh In On SPDR Nuveen ICE Short Term Municipal Bond ETF

Several hedge funds have recently modified their holdings of the company. Western Wealth Management LLC acquired a new position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF during the 1st quarter valued at $108,000. NewEdge Advisors LLC increased its position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF by 591.1% during the 1st quarter. NewEdge Advisors LLC now owns 138,578 shares of the company’s stock valued at $6,628,000 after purchasing an additional 118,526 shares during the period. Bank of America Corp DE increased its position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF by 3.9% during the 1st quarter. Bank of America Corp DE now owns 21,326,865 shares of the company’s stock valued at $1,020,064,000 after purchasing an additional 795,560 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF during the 1st quarter valued at $504,000. Finally, Royal Bank of Canada increased its position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF by 5.9% during the 1st quarter. Royal Bank of Canada now owns 117,076 shares of the company’s stock valued at $5,600,000 after purchasing an additional 6,563 shares during the period. 99.65% of the stock is currently owned by institutional investors and hedge funds.

SPDR Nuveen ICE Short Term Municipal Bond ETF Company Profile

SPDR Nuveen Barclays Short Term Municipal Bond ETF (the Fund), formerly SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF, correspond generally to the price and yield performance of the Barclays Capital Managed Money Municipal Short Term Index (the Index). The Fund uses a passive management strategy designed to track the Index. The Index tracks publicly traded municipal bonds that cover the United States dollar-denominated, short-term tax exempt bond market, including state and local general obligation bonds, revenue bonds, insured bonds and pre-refunded bonds.