iShares New York Muni Bond ETF (NYSEARCA:NYF) Reaches New 52-Week Low – Time to Sell?

iShares New York Muni Bond ETF (NYSEARCA:NYF)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $52.10 and last traded at $52.10, with a volume of 257965 shares changing hands. The stock had previously closed at $52.12.

iShares New York Muni Bond ETF Trading Down 0.2%

The business has a 50-day simple moving average of $53.16 and a 200 day simple moving average of $53.44.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NYF. Bank of America Corp DE boosted its position in shares of iShares New York Muni Bond ETF by 12.9% in the 1st quarter. Bank of America Corp DE now owns 763,210 shares of the company’s stock worth $40,542,000 after purchasing an additional 87,081 shares in the last quarter. Cora Capital Advisors LLC bought a new position in shares of iShares New York Muni Bond ETF in the first quarter worth approximately $1,259,000. HighTower Advisors LLC grew its holdings in shares of iShares New York Muni Bond ETF by 28.7% during the fourth quarter. HighTower Advisors LLC now owns 551,679 shares of the company’s stock valued at $29,520,000 after buying an additional 123,158 shares during the last quarter. Indivisible Partners purchased a new stake in iShares New York Muni Bond ETF during the 4th quarter valued at $659,000. Finally, James J. Burns & Company LLC raised its stake in shares of iShares New York Muni Bond ETF by 36.4% in the first quarter. James J. Burns & Company LLC now owns 72,276 shares of the company’s stock worth $3,839,000 after purchasing an additional 19,280 shares during the last quarter.

iShares New York Muni Bond ETF Company Profile

iShares New York AMT-Free Muni Bond ETF, formerly iShares S&P New York AMT-Free Municipal Bond Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P AMT-Free Municipal Series 2016 IndexTM (the Index). The Underlying Index measures the performance of investment-grade, noncallable United States municipal bonds maturing in 2016. The Index includes municipal bonds primarily from issuers that are state or local governments or agencies such that the interest on the bonds is exempt from United States federal income taxes and the federal alternative minimum tax (AMT).