VanEck Intermediate Muni ETF (BATS:ITM) Hits New 1-Year High – Should You Buy?

VanEck Intermediate Muni ETF (BATS:ITM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $47.79 and last traded at $47.7450, with a volume of 150773 shares traded. The stock had previously closed at $47.67.

VanEck Intermediate Muni ETF Stock Up 0.0%

The company’s 50 day moving average price is $47.30 and its two-hundred day moving average price is $46.78.

VanEck Intermediate Muni ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, February 5th. Investors of record on Monday, February 2nd were given a $0.117 dividend. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Investors Weigh In On VanEck Intermediate Muni ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Blair William & Co. IL raised its stake in shares of VanEck Intermediate Muni ETF by 39.8% during the 4th quarter. Blair William & Co. IL now owns 737 shares of the company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. WBH Advisory Inc. raised its position in VanEck Intermediate Muni ETF by 2.8% during the third quarter. WBH Advisory Inc. now owns 13,595 shares of the company’s stock valued at $634,000 after acquiring an additional 373 shares in the last quarter. Baker Avenue Asset Management LP raised its position in VanEck Intermediate Muni ETF by 1.9% during the second quarter. Baker Avenue Asset Management LP now owns 21,301 shares of the company’s stock valued at $969,000 after acquiring an additional 391 shares in the last quarter. Midwest Trust Co lifted its holdings in VanEck Intermediate Muni ETF by 1.2% in the fourth quarter. Midwest Trust Co now owns 36,964 shares of the company’s stock valued at $1,743,000 after acquiring an additional 432 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in VanEck Intermediate Muni ETF by 9.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 5,242 shares of the company’s stock worth $238,000 after purchasing an additional 445 shares in the last quarter.

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.