iShares New York Muni Bond ETF (NYSEARCA:NYF) Sets New 1-Year Low – Here’s Why

iShares New York Muni Bond ETF (NYSEARCA:NYF)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $52.10 and last traded at $52.10, with a volume of 257965 shares changing hands. The stock had previously closed at $52.12.

iShares New York Muni Bond ETF Price Performance

The stock has a 50 day simple moving average of $53.09 and a two-hundred day simple moving average of $53.42.

Hedge Funds Weigh In On iShares New York Muni Bond ETF

A number of institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in iShares New York Muni Bond ETF by 1,070.2% in the fourth quarter. Hsbc Holdings PLC now owns 323,084 shares of the company’s stock valued at $17,288,000 after acquiring an additional 295,475 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of iShares New York Muni Bond ETF by 296.8% in the 2nd quarter. Jane Street Group LLC now owns 347,152 shares of the company’s stock valued at $18,101,000 after purchasing an additional 259,657 shares during the period. HighTower Advisors LLC raised its holdings in shares of iShares New York Muni Bond ETF by 28.7% in the 4th quarter. HighTower Advisors LLC now owns 551,679 shares of the company’s stock valued at $29,520,000 after purchasing an additional 123,158 shares during the period. Bank of America Corp DE grew its holdings in iShares New York Muni Bond ETF by 12.9% during the first quarter. Bank of America Corp DE now owns 763,210 shares of the company’s stock worth $40,542,000 after purchasing an additional 87,081 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in iShares New York Muni Bond ETF by 91.2% during the fourth quarter. JPMorgan Chase & Co. now owns 174,912 shares of the company’s stock worth $9,360,000 after purchasing an additional 83,431 shares during the period.

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).