Granite Harbor Advisors Inc. Trims Stake in VanEck Intermediate Muni ETF $ITM

Granite Harbor Advisors Inc. reduced its holdings in shares of VanEck Intermediate Muni ETF (BATS:ITM) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,563 shares of the company’s stock after selling 15,883 shares during the period. VanEck Intermediate Muni ETF comprises 1.2% of Granite Harbor Advisors Inc.’s portfolio, making the stock its 21st largest holding. Granite Harbor Advisors Inc. owned 0.15% of VanEck Intermediate Muni ETF worth $2,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Leo Wealth LLC purchased a new stake in VanEck Intermediate Muni ETF during the fourth quarter valued at approximately $521,000. Independence Bank of Kentucky purchased a new stake in VanEck Intermediate Muni ETF during the fourth quarter valued at approximately $107,000. FOCUS Wealth Advisors LLC increased its holdings in VanEck Intermediate Muni ETF by 4.7% during the fourth quarter. FOCUS Wealth Advisors LLC now owns 186,692 shares of the company’s stock valued at $8,804,000 after buying an additional 8,460 shares during the last quarter. Fulton Bank N.A. increased its holdings in VanEck Intermediate Muni ETF by 21.1% during the fourth quarter. Fulton Bank N.A. now owns 73,079 shares of the company’s stock valued at $3,446,000 after buying an additional 12,742 shares during the last quarter. Finally, Gradient Investments LLC increased its holdings in VanEck Intermediate Muni ETF by 6.6% during the fourth quarter. Gradient Investments LLC now owns 20,469 shares of the company’s stock valued at $965,000 after buying an additional 1,261 shares during the last quarter.

VanEck Intermediate Muni ETF Stock Up 0.3%

Shares of ITM stock opened at $46.82 on Friday. VanEck Intermediate Muni ETF has a 12 month low of $43.85 and a 12 month high of $48.02. The company has a 50 day simple moving average of $47.19 and a two-hundred day simple moving average of $47.09.

VanEck Intermediate Muni ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, March 5th. Shareholders of record on Monday, March 2nd were given a $0.1043 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, March 2nd.

About VanEck Intermediate Muni ETF

The VanEck Intermediate Muni ETF (ITM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market value-weighted index of investment grade, tax-exempt US municipal bonds with nominal maturities of 6-17 years. ITM was launched on Dec 4, 2007 and is managed by VanEck.