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

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

VanEck Intermediate Muni ETF Stock Performance

BATS ITM traded up $0.16 on Monday, reaching $46.03. 187,073 shares of the company were exchanged, compared to its average volume of 266,602. VanEck Intermediate Muni ETF has a fifty-two week low of $45.29 and a fifty-two week high of $48.02. The business’s fifty day moving average price is $46.71 and its 200 day moving average price is $46.97.

Institutional Trading of VanEck Intermediate Muni ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in ITM. Bank of America Corp DE grew its position in VanEck Intermediate Muni ETF by 0.7% in the first quarter. Bank of America Corp DE now owns 16,468,733 shares of the company’s stock worth $764,643,000 after acquiring an additional 121,958 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of VanEck Intermediate Muni ETF by 10.3% during the fourth 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 during the last quarter. M&T Bank Corp purchased a new stake in shares of VanEck Intermediate Muni ETF in the 4th quarter valued at approximately $112,631,000. LPL Financial LLC raised its stake in shares of VanEck Intermediate Muni ETF by 2.4% in the 4th quarter. LPL Financial LLC now owns 2,133,566 shares of the company’s stock valued at $100,619,000 after acquiring an additional 50,368 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of VanEck Intermediate Muni ETF by 46.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,281,231 shares of the company’s stock worth $59,715,000 after acquiring an additional 403,482 shares during the last quarter.

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.