Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) Reaches New 1-Year Low – Here’s Why

Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) hit a new 52-week low during trading on Wednesday . The company traded as low as $26.14 and last traded at $26.1550, with a volume of 98879 shares. The stock had previously closed at $26.26.

Invesco Taxable Municipal Bond ETF Stock Performance

The business’s 50 day simple moving average is $26.46 and its 200-day simple moving average is $26.78. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -202.23 and a beta of 0.30.

Institutional Investors Weigh In On Invesco Taxable Municipal Bond ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Tortoise Investment Management LLC boosted its holdings in Invesco Taxable Municipal Bond ETF by 8.5% in the second quarter. Tortoise Investment Management LLC now owns 464,700 shares of the company’s stock worth $12,473,000 after purchasing an additional 36,222 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Invesco Taxable Municipal Bond ETF during the second quarter valued at about $471,000. NewEdge Advisors LLC raised its holdings in Invesco Taxable Municipal Bond ETF by 3.5% during the second quarter. NewEdge Advisors LLC now owns 50,989 shares of the company’s stock valued at $1,369,000 after buying an additional 1,739 shares in the last quarter. Corient Private Wealth LP raised its holdings in Invesco Taxable Municipal Bond ETF by 3.4% during the second quarter. Corient Private Wealth LP now owns 131,550 shares of the company’s stock valued at $3,531,000 after buying an additional 4,351 shares in the last quarter. Finally, Kintra Wealth LLC acquired a new stake in shares of Invesco Taxable Municipal Bond ETF in the second quarter worth about $392,000.

Invesco Taxable Municipal Bond ETF Company Profile

PowerShares Build America Bond Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of an index called The BofA Merrill Lynch Build America Bond Index (the Index). The Fund will normally invests at least 80% of its total assets in the securities that comprise the Index. The Index is designed to track the performance of the United States dollar-denominated Build America Bonds publicly issued by the United States and territories, and their political subdivisions, in the United States market.