Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ) Sees Large Volume Increase – Still a Buy?

Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ) shares saw unusually-strong trading volume on Thursday . Approximately 442,397 shares changed hands during trading, an increase of 64% from the previous session’s volume of 270,368 shares.The stock last traded at $23.1140 and had previously closed at $23.28.

Invesco California AMT-Free Municipal Bond ETF Stock Performance

The firm’s 50 day simple moving average is $24.02 and its 200-day simple moving average is $24.15.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in shares of Invesco California AMT-Free Municipal Bond ETF in the second quarter worth about $1,423,000. Corient Private Wealth LP purchased a new stake in shares of Invesco California AMT-Free Municipal Bond ETF during the 2nd quarter valued at about $409,000. Readystate Asset Management LP acquired a new position in Invesco California AMT-Free Municipal Bond ETF during the 2nd quarter worth approximately $288,000. Syon Capital LLC boosted its holdings in Invesco California AMT-Free Municipal Bond ETF by 2.2% in the 2nd quarter. Syon Capital LLC now owns 1,231,692 shares of the company’s stock worth $30,189,000 after acquiring an additional 26,637 shares during the period. Finally, TD Waterhouse Canada Inc. acquired a new stake in Invesco California AMT-Free Municipal Bond ETF in the second quarter valued at approximately $71,000.

Invesco California AMT-Free Municipal Bond ETF Company Profile

The Invesco California AMT-Free Municipal Bond ETF (PWZ) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of insured investment-grade, tax-exempt debt issued by California or any US territory with at least 15 years remaining to maturity. PWZ was launched on Oct 11, 2007 and is managed by Invesco.