Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ) Sets New 12-Month Low – Here’s Why

Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $24.05 and last traded at $24.06, with a volume of 9399 shares trading hands. The stock had previously closed at $24.13.

Invesco California AMT-Free Municipal Bond ETF Price Performance

The stock’s 50-day moving average price is $24.49 and its 200-day moving average price is $24.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its stake in Invesco California AMT-Free Municipal Bond ETF by 60.6% during the third quarter. Larson Financial Group LLC now owns 2,650 shares of the company’s stock worth $66,000 after acquiring an additional 1,000 shares in the last quarter. Townsquare Capital LLC acquired a new position in Invesco California AMT-Free Municipal Bond ETF during the third quarter worth about $475,000. HighTower Advisors LLC raised its stake in Invesco California AMT-Free Municipal Bond ETF by 1.3% during the third quarter. HighTower Advisors LLC now owns 38,129 shares of the company’s stock worth $959,000 after acquiring an additional 475 shares in the last quarter. EP Wealth Advisors LLC raised its stake in Invesco California AMT-Free Municipal Bond ETF by 1.7% during the third quarter. EP Wealth Advisors LLC now owns 773,395 shares of the company’s stock worth $19,397,000 after acquiring an additional 12,990 shares in the last quarter. Finally, Destination Wealth Management raised its stake in Invesco California AMT-Free Municipal Bond ETF by 2.0% during the third quarter. Destination Wealth Management now owns 26,118 shares of the company’s stock worth $655,000 after acquiring an additional 500 shares in the last quarter.

About Invesco California AMT-Free Municipal Bond ETF

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.