AB California Intermediate Municipal ETF (NYSEARCA:CAM) Reaches New 1-Year Low – What’s Next?

Shares of AB California Intermediate Municipal ETF (NYSEARCA:CAM) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $24.41 and last traded at $24.4150, with a volume of 45715 shares changing hands. The stock had previously closed at $24.48.

AB California Intermediate Municipal ETF Trading Down 0.3%

The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 7.56 and a beta of -0.24. The stock’s 50 day moving average is $24.84 and its 200 day moving average is $24.99.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CAM. NWF Advisory Services Inc. bought a new position in shares of AB California Intermediate Municipal ETF in the 2nd quarter valued at $213,000. Tortoise Investment Management LLC bought a new position in AB California Intermediate Municipal ETF in the second quarter valued at about $224,000. Diversify Wealth Management LLC bought a new position in AB California Intermediate Municipal ETF in the first quarter valued at about $301,000. Sanctuary Advisors LLC acquired a new position in AB California Intermediate Municipal ETF during the first quarter worth about $311,000. Finally, Retirement Planning Group LLC bought a new position in shares of AB California Intermediate Municipal ETF in the first quarter worth about $513,000. 85.00% of the stock is owned by institutional investors.

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.