iShares New York Muni Bond ETF (NYSEARCA:NYF) Sees Large Volume Increase – Here’s Why

iShares New York Muni Bond ETF (NYSEARCA:NYF) shares saw unusually-strong trading volume on Tuesday. 843,584 shares were traded during trading, an increase of 267% from the previous session’s volume of 229,614 shares. The stock last traded at $50.5250 and had previously closed at $50.57.

iShares New York Muni Bond ETF Price Performance

The stock’s 50-day moving average price is $51.99 and its 200 day moving average price is $52.95.

Institutional Investors Weigh In On iShares New York Muni Bond ETF

Several large investors have recently bought and sold shares of NYF. Hsbc Holdings PLC raised its holdings in iShares New York Muni Bond ETF by 1,070.2% during the fourth quarter. Hsbc Holdings PLC now owns 323,084 shares of the company’s stock worth $17,288,000 after purchasing an additional 295,475 shares in the last quarter. Bank of America Corp DE raised its stake in iShares New York Muni Bond ETF by 12.9% during the 1st quarter. Bank of America Corp DE now owns 763,210 shares of the company’s stock worth $40,542,000 after acquiring an additional 87,081 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in iShares New York Muni Bond ETF by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 306,420 shares of the company’s stock valued at $16,518,000 after acquiring an additional 57,690 shares during the last quarter. Corient Private Wealth LP boosted its stake in iShares New York Muni Bond ETF by 153.8% in the second quarter. Corient Private Wealth LP now owns 63,637 shares of the company’s stock valued at $3,430,000 after acquiring an additional 38,560 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in shares of iShares New York Muni Bond ETF by 61.4% during the second quarter. Wedmont Private Capital now owns 94,537 shares of the company’s stock worth $5,071,000 after purchasing an additional 35,975 shares during the last quarter.

About iShares New York Muni Bond ETF

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).