AB Tax-Aware Short Duration Municipal ETF (NYSEARCA:TAFI) Sees Significant Drop in Short Interest

AB Tax-Aware Short Duration Municipal ETF (NYSEARCA:TAFI) saw a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 29,787 shares, a drop of 68.7% from the February 26th total of 95,216 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 296,841 shares, the days-to-cover ratio is currently 0.1 days.

AB Tax-Aware Short Duration Municipal ETF Stock Down 0.1%

Shares of NYSEARCA:TAFI traded down $0.02 during trading on Thursday, hitting $25.11. 487,222 shares of the company’s stock were exchanged, compared to its average volume of 351,750. The firm has a 50-day moving average price of $25.35 and a two-hundred day moving average price of $25.30. AB Tax-Aware Short Duration Municipal ETF has a 1-year low of $24.55 and a 1-year high of $25.52.

AB Tax-Aware Short Duration Municipal ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.0626 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 3.0%. This is a boost from AB Tax-Aware Short Duration Municipal ETF’s previous monthly dividend of $0.06.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of AB Tax-Aware Short Duration Municipal ETF by 55.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 696,961 shares of the company’s stock worth $17,501,000 after purchasing an additional 249,468 shares during the last quarter. United Community Bank bought a new stake in AB Tax-Aware Short Duration Municipal ETF in the third quarter valued at about $94,000. Cary Street Partners Financial LLC bought a new stake in AB Tax-Aware Short Duration Municipal ETF in the fourth quarter valued at about $601,000. Finally, Advisory Services Network LLC lifted its stake in AB Tax-Aware Short Duration Municipal ETF by 22.2% in the fourth quarter. Advisory Services Network LLC now owns 81,922 shares of the company’s stock valued at $2,065,000 after buying an additional 14,889 shares during the period.

AB Tax-Aware Short Duration Municipal ETF Company Profile

The Ab Tax-Aware Short Duration ETF (TAFI) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed ETF that primarily invests in investment-grade municipal bonds from the United States. The fund seeks to maintain a dollar-weighted average duration of less than three years. TAFI was launched on Sep 13, 2022 and is managed by AB Funds.