ALPS Intermediate Municipal Bond ETF (NYSEARCA:MNBD) Shares Up 0.7% – Time to Buy?

ALPS Intermediate Municipal Bond ETF (NYSEARCA:MNBD) shares were up 0.7% during trading on Wednesday. The company traded as high as $24.62 and last traded at $24.60. 8,811 shares were traded during trading, an increase of 28% from the average daily volume of 6,862 shares. The stock had previously closed at $24.44.

ALPS Intermediate Municipal Bond ETF Price Performance

The stock has a 50-day moving average of $25.40 and a 200-day moving average of $25.75.

Hedge Funds Weigh In On ALPS Intermediate Municipal Bond ETF

A number of institutional investors have recently added to or reduced their stakes in MNBD. Envestnet Asset Management Inc. bought a new stake in shares of ALPS Intermediate Municipal Bond ETF during the 2nd quarter valued at about $201,000. Arsenal Capital Advisors LLC purchased a new position in shares of ALPS Intermediate Municipal Bond ETF during the fourth quarter worth about $378,000. Finally, Tenzing Financial LLC bought a new position in shares of ALPS Intermediate Municipal Bond ETF in the fourth quarter worth approximately $1,811,000.

About ALPS Intermediate Municipal Bond ETF

The ALPS Intermediate Municipal Bond ETF (MNBD) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed to provide exposure to investment-grade, intermediate-term municipal bonds that are exempt from federal income tax. MNBD was launched on May 19, 2022 and is managed by ALPS.