American Century Diversified Municipal Bond ETF (NYSEARCA:TAXF) Reaches New 52-Week Low – Should You Sell?

American Century Diversified Municipal Bond ETF (NYSEARCA:TAXF)’s share price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $48.23 and last traded at $48.2260, with a volume of 17231 shares traded. The stock had previously closed at $48.40.

American Century Diversified Municipal Bond ETF Stock Down 0.5%

The business’s 50 day simple moving average is $49.50 and its 200 day simple moving average is $50.11.

Hedge Funds Weigh In On American Century Diversified Municipal Bond ETF

Several institutional investors have recently added to or reduced their stakes in TAXF. Envestnet Asset Management Inc. boosted its position in American Century Diversified Municipal Bond ETF by 6.3% during the second quarter. Envestnet Asset Management Inc. now owns 2,446,137 shares of the company’s stock worth $124,349,000 after purchasing an additional 145,628 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of American Century Diversified Municipal Bond ETF by 93.9% during the 1st quarter. NewEdge Advisors LLC now owns 106,977 shares of the company’s stock worth $5,354,000 after buying an additional 51,799 shares during the last quarter. Allied Private Wealth LLC acquired a new position in shares of American Century Diversified Municipal Bond ETF during the 2nd quarter worth $2,214,000. CX Institutional raised its stake in shares of American Century Diversified Municipal Bond ETF by 5.1% during the 2nd quarter. CX Institutional now owns 428,304 shares of the company’s stock worth $21,773,000 after buying an additional 20,819 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of American Century Diversified Municipal Bond ETF in the 1st quarter worth about $822,000.

American Century Diversified Municipal Bond ETF Company Profile

The American Century Diversified Municipal Bond ETF (TAXF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds. The fund seeks current income that is exempt from federal taxes. TAXF was launched on Sep 10, 2018 and is managed by American Century Investments.