SPDR Nuveen ICE Short Term Municipal Bond ETF (NYSEARCA:SHM) Reaches New 1-Year Low – Should You Sell?

SPDR Nuveen ICE Short Term Municipal Bond ETF (NYSEARCA:SHM) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $47.47 and last traded at $47.49, with a volume of 4516 shares traded. The stock had previously closed at $47.53.

SPDR Nuveen ICE Short Term Municipal Bond ETF Trading Down 0.1%

The company’s 50-day simple moving average is $47.71 and its 200 day simple moving average is $47.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SHM. Bank of America Corp DE boosted its holdings in SPDR Nuveen ICE Short Term Municipal Bond ETF by 3.9% in the first quarter. Bank of America Corp DE now owns 21,326,865 shares of the company’s stock worth $1,020,064,000 after acquiring an additional 795,560 shares in the last quarter. UMB Bank n.a. purchased a new stake in SPDR Nuveen ICE Short Term Municipal Bond ETF during the 4th quarter worth approximately $25,382,000. Waverly Advisors LLC increased its stake in SPDR Nuveen ICE Short Term Municipal Bond ETF by 555.6% during the 1st quarter. Waverly Advisors LLC now owns 178,906 shares of the company’s stock valued at $8,557,000 after purchasing an additional 151,617 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in SPDR Nuveen ICE Short Term Municipal Bond ETF by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,732,033 shares of the company’s stock valued at $82,843,000 after purchasing an additional 148,431 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF by 5.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,840,836 shares of the company’s stock valued at $136,985,000 after acquiring an additional 144,526 shares during the period. 99.65% of the stock is owned by institutional investors and hedge funds.

About SPDR Nuveen ICE Short Term Municipal Bond ETF

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.