AB California Intermediate Municipal ETF (NYSEARCA:CAM) Sets New 12-Month Low – Here’s Why

AB California Intermediate Municipal ETF (NYSEARCA:CAM) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $24.83 and last traded at $24.83, with a volume of 2442 shares changing hands. The stock had previously closed at $24.93.

AB California Intermediate Municipal ETF Trading Down 0.4%

The stock’s 50-day simple moving average is $25.04 and its 200-day simple moving average is $25.12. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 7.67 and a beta of 0.13.

Institutional Investors Weigh In On AB California Intermediate Municipal ETF

A number of large investors have recently added to or reduced their stakes in CAM. Planned Solutions Inc. acquired a new position in AB California Intermediate Municipal ETF in the 4th quarter valued at $2,641,000. Fifth Third Bancorp acquired a new stake in shares of AB California Intermediate Municipal ETF during the 1st quarter worth $1,486,000. Bank of America Corp DE grew its holdings in shares of AB California Intermediate Municipal ETF by 7.8% during the 1st quarter. Bank of America Corp DE now owns 362,698 shares of the oil and gas company’s stock worth $9,056,000 after purchasing an additional 26,157 shares in the last quarter. Retirement Planning Group LLC acquired a new stake in shares of AB California Intermediate Municipal ETF during the 1st quarter worth $513,000. Finally, Sanctuary Advisors LLC bought a new position in shares of AB California Intermediate Municipal ETF in the first quarter worth $311,000. Institutional investors and hedge funds own 85.00% of the company’s stock.

About AB California Intermediate Municipal ETF

Cameron International Corporation (Cameron), incorporated on November 10, 1994, provides flow equipment products, systems and services to worldwide oil, gas and process industries. The Company operates through four business segments: Subsea, Surface, Drilling and Valves & Measurement (V&M). The Subsea segment delivers integrated solutions, products, systems and services to the subsea oil and gas market, including integrated subsea production systems. Cameron’s Surface segment designs and manufactures wellhead and Christmas tree systemsfor onshore and offshore topside applications – from conventional to high-pressure, high temperature systems, to specialized systems for dry completions and heavy oil.