AB California Intermediate Municipal ETF (NYSEARCA:CAM) Sees Strong Trading Volume – Here’s Why

Shares of AB California Intermediate Municipal ETF (NYSEARCA:CAM) saw strong trading volume on Tuesday . Approximately 1,024,623 shares traded hands during trading, an increase of 840% from the previous session’s volume of 108,995 shares.The stock last traded at $24.4060 and had previously closed at $24.42.

AB California Intermediate Municipal ETF Price Performance

The business’s 50 day moving average price is $24.78 and its 200 day moving average price is $24.96. The stock has a market capitalization of $1.18 billion, a P/E ratio of 7.56 and a beta of -0.25.

Institutional Investors Weigh In On AB California Intermediate Municipal ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAM. DDFG Inc raised its stake in AB California Intermediate Municipal ETF by 2.3% during the 1st quarter. DDFG Inc now owns 446,341 shares of the oil and gas company’s stock valued at $11,144,000 after buying an additional 9,883 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of AB California Intermediate Municipal ETF by 7.8% during the 1st 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 buying an additional 26,157 shares during the period. Fifth Third Bancorp purchased a new position in shares of AB California Intermediate Municipal ETF in the 1st quarter worth $1,486,000. Retirement Planning Group LLC purchased a new position in shares of AB California Intermediate Municipal ETF in the 1st quarter worth $513,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of AB California Intermediate Municipal ETF in the first quarter worth $311,000. 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.