AB California Intermediate Municipal ETF (NYSEARCA:CAM) Sees Large Volume Increase – Still a Buy?

AB California Intermediate Municipal ETF (NYSEARCA:CAM) saw unusually-strong trading volume on Tuesday. Approximately 111,767 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 134,338 shares. The stock last traded at $24.1450 and had previously closed at $24.13.

AB California Intermediate Municipal ETF Price Performance

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 7.48 and a beta of -0.41. The stock has a 50 day simple moving average of $24.55 and a two-hundred day simple moving average of $24.85.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in AB California Intermediate Municipal ETF by 7.8% in the first quarter. Bank of America Corp DE now owns 362,698 shares of the oil and gas company’s stock valued at $9,056,000 after purchasing an additional 26,157 shares during the last quarter. Fifth Third Bancorp acquired a new stake in AB California Intermediate Municipal ETF during the first quarter worth approximately $1,486,000. Retirement Planning Group LLC acquired a new stake in AB California Intermediate Municipal ETF during the first quarter worth approximately $513,000. Tortoise Investment Management LLC acquired a new stake in AB California Intermediate Municipal ETF during the second quarter worth approximately $224,000. Finally, NWF Advisory Services Inc. acquired a new stake in AB California Intermediate Municipal ETF during the second quarter worth approximately $213,000. Hedge funds and other institutional investors own 85.00% of the company’s stock.

AB California Intermediate Municipal ETF Company Profile

Cameron International Corporation (Cameron), incorporated on November 10, 1994, provides flow equipment products, systems and services to worldwide oil, gas and process industries. The Company operates through four business segments: Subsea, Surface, Drilling and Valves & Measurement (V&M). The Subsea segment delivers integrated solutions, products, systems and services to the subsea oil and gas market, including integrated subsea production systems. Cameron’s Surface segment designs and manufactures wellhead and Christmas tree systemsfor onshore and offshore topside applications – from conventional to high-pressure, high temperature systems, to specialized systems for dry completions and heavy oil.