iShares New York Muni Bond ETF (NYSEARCA:NYF) Sees Large Volume Increase – Time to Buy?

iShares New York Muni Bond ETF (NYSEARCA:NYF) saw an uptick in trading volume on Thursday . Approximately 476,452 shares were traded during mid-day trading, an increase of 190% from the previous session’s volume of 164,191 shares.The stock last traded at $52.95 and had previously closed at $52.97.

iShares New York Muni Bond ETF Trading Up 0.2%

The firm’s 50 day moving average price is $53.48 and its two-hundred day moving average price is $53.58.

Institutional Trading of iShares New York Muni Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC grew its stake in shares of iShares New York Muni Bond ETF by 45.1% in the 1st quarter. Root Financial Partners LLC now owns 1,110 shares of the company’s stock valued at $59,000 after purchasing an additional 345 shares during the last quarter. WealthShield Partners LLC purchased a new stake in shares of iShares New York Muni Bond ETF during the fourth quarter worth approximately $90,000. CIBC Private Wealth Group LLC purchased a new stake in shares of iShares New York Muni Bond ETF during the fourth quarter worth approximately $188,000. Quadrant Private Wealth Management LLC purchased a new stake in shares of iShares New York Muni Bond ETF during the fourth quarter worth approximately $201,000. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of iShares New York Muni Bond ETF during the third quarter worth $202,000.

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).