iShares New York Muni Bond ETF (NYSEARCA:NYF) Reaches New 12-Month Low – What’s Next?

iShares New York Muni Bond ETF (NYSEARCA:NYF) reached a new 52-week low on Tuesday . The company traded as low as $51.36 and last traded at $51.3950, with a volume of 428616 shares changing hands. The stock had previously closed at $51.53.

iShares New York Muni Bond ETF Stock Performance

The firm’s 50 day moving average price is $52.74 and its 200 day moving average price is $53.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XY Planning Network Inc. purchased a new position in iShares New York Muni Bond ETF in the 2nd quarter worth about $251,000. Allworth Financial LP lifted its position in iShares New York Muni Bond ETF by 9.5% during the second quarter. Allworth Financial LP now owns 23,930 shares of the company’s stock valued at $1,290,000 after purchasing an additional 2,086 shares during the period. Corient Private Wealth LP boosted its holdings in iShares New York Muni Bond ETF by 153.8% in the second quarter. Corient Private Wealth LP now owns 63,637 shares of the company’s stock worth $3,430,000 after purchasing an additional 38,560 shares during the last quarter. Wedmont Private Capital grew its position in iShares New York Muni Bond ETF by 61.4% in the 2nd quarter. Wedmont Private Capital now owns 94,537 shares of the company’s stock worth $5,071,000 after purchasing an additional 35,975 shares during the period. Finally, Sax Wealth Advisors LLC purchased a new stake in iShares New York Muni Bond ETF during the 2nd quarter valued at $854,000.

About iShares New York Muni Bond ETF

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).