ALPS Intermediate Municipal Bond ETF (NYSEARCA:MNBD) Sees Large Drop in Short Interest

ALPS Intermediate Municipal Bond ETF (NYSEARCA:MNBD) was the recipient of a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 6,400 shares, a decline of 25.6% from the May 15th total of 8,600 shares. Based on an average daily volume of 2,500 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MNBD. Strategic Financial Concepts LLC bought a new position in ALPS Intermediate Municipal Bond ETF in the fourth quarter worth about $468,000. Jane Street Group LLC raised its position in shares of ALPS Intermediate Municipal Bond ETF by 154.2% during the 4th quarter. Jane Street Group LLC now owns 19,851 shares of the company’s stock worth $507,000 after purchasing an additional 12,042 shares during the period. Finally, Citadel Advisors LLC acquired a new position in ALPS Intermediate Municipal Bond ETF during the 4th quarter valued at approximately $365,000.

ALPS Intermediate Municipal Bond ETF Trading Up 0.1%

MNBD stock opened at $25.41 on Friday. ALPS Intermediate Municipal Bond ETF has a 1-year low of $24.55 and a 1-year high of $26.18. The firm has a fifty day moving average price of $25.25 and a two-hundred day moving average price of $25.47.

ALPS Intermediate Municipal Bond ETF Company Profile

The ALPS Intermediate Municipal Bond ETF (MNBD) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is actively managed to provide exposure to investment-grade, intermediate-term municipal bonds that are exempt from federal income tax. MNBD was launched on May 19, 2022 and is managed by ALPS.