Dravo Bay LLC Reduces Stake in iShares National Muni Bond ETF

Dravo Bay LLC has decreased its holdings in the iShares National Muni Bond ETF (NYSEARCA:MUB) by 23.7% during the second quarter of 2023, according to a recent disclosure filed with the Securities and Exchange Commission. The firm now owns 43,379 shares of the exchange-traded fund after selling 13,455 shares during the quarter. This adjustment results in the iShares National Muni Bond ETF representing approximately 2.2% of Dravo Bay LLC’s total portfolio, placing it as the firm’s 14th largest position.

As of the latest filing, the value of Dravo Bay LLC’s investment in the iShares National Muni Bond ETF stands at approximately $4,521,000. The changes in this fund’s ownership have attracted attention from various hedge funds and institutional investors, many of whom have also recently modified their positions.

Notable Changes in Institutional Holdings

Financial Network Wealth Advisors LLC increased its stake in the iShares National Muni Bond ETF by an impressive 121.9% during the first quarter of 2023. The firm now holds 253 shares, valued at $27,000, after acquiring an additional 139 shares.

Raleigh Capital Management Inc. recorded a remarkable rise of 2,193.3% in its holdings of the ETF during the same period. This firm now possesses 344 shares, worth $36,000, following the purchase of 329 more shares. HFM Investment Advisors LLC also entered the market with a new position in the ETF valued at around $37,000.

Integrity Financial Corp WA expanded its investments as well, increasing its stake by 55.7% to own 358 shares worth $38,000 after buying an extra 128 shares. Additionally, Mattson Financial Services LLC made a new investment in the ETF, valued at approximately $41,000.

The activity among hedge funds and institutional investors indicates robust interest in the iShares National Muni Bond ETF, which currently has institutional ownership approaching 90.19%.

Current Performance of iShares National Muni Bond ETF

As of the last trading session, shares of the iShares National Muni Bond ETF opened at $107.48. The ETF has experienced a 52-week low of $100.29 and a high of $108.60. The fund’s 50-day moving average price is reported at $106.32, while its 200-day moving average stands at $104.77.

The iShares National Muni Bond ETF, formerly known as the iShares S&P National AMT-Free Municipal Bond Fund, seeks to provide investment results that generally correspond to the price and yield performance of the S&P National AMT-Free Municipal Bond Index.

For those interested in tracking further developments and positions held by hedge funds in the iShares National Muni Bond ETF, additional information is available through financial news platforms and services.