PNC Financial Services Group Inc. Lowers Stake in Vanguard Tax-Exempt Bond ETF $VTEB

PNC Financial Services Group Inc. lessened its stake in Vanguard Tax-Exempt Bond ETF (NYSEARCA:VTEB) by 3.8% in the 1st quarter, Holdings Channel reports. The firm owned 2,462,866 shares of the company’s stock after selling 97,485 shares during the period. PNC Financial Services Group Inc.’s holdings in Vanguard Tax-Exempt Bond ETF were worth $122,872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Vanguard Tax-Exempt Bond ETF during the third quarter worth $347,641,000. JPMorgan Chase & Co. grew its stake in shares of Vanguard Tax-Exempt Bond ETF by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 104,551,572 shares of the company’s stock valued at $5,257,899,000 after buying an additional 5,461,346 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Vanguard Tax-Exempt Bond ETF by 87.6% in the second quarter. Corient Private Wealth LLC now owns 7,404,770 shares of the company’s stock valued at $363,056,000 after buying an additional 3,458,654 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Vanguard Tax-Exempt Bond ETF by 10.8% in the fourth quarter. Raymond James Financial Inc. now owns 24,614,196 shares of the company’s stock valued at $1,237,835,000 after buying an additional 2,396,916 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Vanguard Tax-Exempt Bond ETF by 9.4% in the 4th quarter. Morgan Stanley now owns 25,172,743 shares of the company’s stock valued at $1,265,937,000 after buying an additional 2,173,235 shares during the period.

Vanguard Tax-Exempt Bond ETF Price Performance

VTEB opened at $49.81 on Thursday. The stock’s 50-day moving average price is $50.25 and its 200 day moving average price is $50.36. Vanguard Tax-Exempt Bond ETF has a 12-month low of $48.46 and a 12-month high of $51.18.

Vanguard Tax-Exempt Bond ETF Profile

The Vanguard Tax-Exempt Bond ETF (VTEB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-weighted index of investment-grade debt issued by state and local governments and agencies. Interest is exempt from US income tax and from AMT. VTEB was launched on Aug 21, 2015 and is managed by Vanguard.