SPDR Nuveen ICE Short Term Municipal Bond ETF (NYSEARCA:SHM) Sees Large Drop in Short Interest

SPDR Nuveen ICE Short Term Municipal Bond ETF (NYSEARCA:SHM) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 221,578 shares, a decline of 48.7% from the August 31st total of 431,784 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 273,275 shares, the days-to-cover ratio is currently 0.8 days.

SPDR Nuveen ICE Short Term Municipal Bond ETF Stock Up 0.2%

Shares of SHM traded up $0.10 during mid-day trading on Thursday, reaching $46.75. The company had a trading volume of 1,095,069 shares, compared to its average volume of 303,009. SPDR Nuveen ICE Short Term Municipal Bond ETF has a 52-week low of $46.33 and a 52-week high of $48.48. The stock has a 50 day moving average of $47.45 and a two-hundred day moving average of $47.72.

Institutional Investors Weigh In On SPDR Nuveen ICE Short Term Municipal Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in SHM. Confluence Investment Management LLC purchased a new stake in SPDR Nuveen ICE Short Term Municipal Bond ETF during the third quarter worth $907,000. Envestnet Portfolio Solutions Inc. increased its holdings in SPDR Nuveen ICE Short Term Municipal Bond ETF by 122.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,104 shares of the company’s stock valued at $1,300,000 after buying an additional 14,934 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF by 26.1% in the second quarter. Envestnet Asset Management Inc. now owns 2,389,309 shares of the company’s stock worth $114,603,000 after acquiring an additional 494,596 shares during the period. Capital Analysts LLC raised its position in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF by 8.1% in the second quarter. Capital Analysts LLC now owns 12,816 shares of the company’s stock worth $614,000 after acquiring an additional 965 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of SPDR Nuveen ICE Short Term Municipal Bond ETF by 29.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 38,078 shares of the company’s stock worth $1,826,000 after acquiring an additional 8,718 shares in the last quarter. Institutional investors and hedge funds own 99.65% of the company’s stock.

SPDR Nuveen ICE Short Term Municipal Bond ETF Company Profile

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.