VanEck Intermediate Muni ETF (BATS:ITM) Sees Significant Increase in Short Interest

VanEck Intermediate Muni ETF (BATS:ITM) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 73,625 shares, a growth of 185.4% from the June 30th total of 25,799 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 176,604 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of VanEck Intermediate Muni ETF

A number of institutional investors and hedge funds have recently made changes to their positions in ITM. M&T Bank Corp acquired a new stake in VanEck Intermediate Muni ETF during the 4th quarter worth $112,631,000. UMB Bank n.a. purchased a new position in shares of VanEck Intermediate Muni ETF in the fourth quarter worth about $48,294,000. Ameriprise Financial Inc. boosted its position in VanEck Intermediate Muni ETF by 217.3% during the second quarter. Ameriprise Financial Inc. now owns 877,749 shares of the company’s stock worth $39,908,000 after acquiring an additional 601,111 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in VanEck Intermediate Muni ETF by 10.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,239,352 shares of the company’s stock valued at $199,928,000 after acquiring an additional 394,734 shares in the last quarter. Finally, TIAA Trust National Association grew its stake in VanEck Intermediate Muni ETF by 70.9% during the 4th quarter. TIAA Trust National Association now owns 862,097 shares of the company’s stock valued at $40,656,000 after acquiring an additional 357,608 shares in the last quarter.

VanEck Intermediate Muni ETF Price Performance

Shares of BATS:ITM traded up $0.16 during trading on Monday, hitting $46.03. 187,073 shares of the stock traded hands, compared to its average volume of 266,602. The company has a fifty day moving average price of $46.71 and a two-hundred day moving average price of $46.97. VanEck Intermediate Muni ETF has a 52-week low of $45.29 and a 52-week high of $48.02.

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.