iShares New York Muni Bond ETF (NYSEARCA:NYF) Sees Unusually-High Trading Volume – Still a Buy?

iShares New York Muni Bond ETF (NYSEARCA:NYF) saw unusually-high trading volume on Tuesday. Approximately 843,584 shares changed hands during mid-day trading, an increase of 267% from the previous session’s volume of 229,614 shares. The stock last traded at $50.5250 and had previously closed at $50.57.

iShares New York Muni Bond ETF Trading Down 0.1%

The stock has a 50 day moving average of $52.10 and a 200-day moving average of $52.99.

Institutional Investors Weigh In On iShares New York Muni Bond ETF

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of iShares New York Muni Bond ETF by 12.9% in the 1st quarter. Bank of America Corp DE now owns 763,210 shares of the company’s stock valued at $40,542,000 after acquiring an additional 87,081 shares during the period. Cora Capital Advisors LLC bought a new stake in iShares New York Muni Bond ETF during the first quarter valued at about $1,259,000. Hennion & Walsh Asset Management Inc. boosted its position in iShares New York Muni Bond ETF by 14.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 109,332 shares of the company’s stock valued at $5,894,000 after purchasing an additional 13,721 shares in the last quarter. Wedmont Private Capital raised its holdings in iShares New York Muni Bond ETF by 61.4% in the second 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 in the last quarter. Finally, James J. Burns & Company LLC lifted its position in shares of iShares New York Muni Bond ETF by 36.4% during the first quarter. James J. Burns & Company LLC now owns 72,276 shares of the company’s stock valued at $3,839,000 after buying an additional 19,280 shares during the last quarter.

iShares New York Muni Bond ETF Company Profile

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).