Miracle Mile Advisors LLC has significantly reduced its holdings in the Invesco New York AMT-Free Municipal Bond ETF (NYSEARCA:PZT), decreasing its position by 62.9% during the third quarter of 2023. This decision was disclosed in the firm’s latest filing with the Securities and Exchange Commission. Following the sale of 215,767 shares, Miracle Mile Advisors now owns 127,027 shares of the ETF, which represents approximately 2.07% of the fund, valued at around $2.8 million.
A number of other institutional investors have also adjusted their positions in the Invesco New York AMT-Free Municipal Bond ETF. Notably, Sax Wealth Advisors LLC initiated a new stake valued at $781,000 in the second quarter. Meanwhile, Cetera Investment Advisers increased its investment in the ETF by 88.3% during the same period, acquiring an additional 17,238 shares for a total holding of 36,751 shares, now worth $795,000.
Other funds that have recently made moves include Wealthfront Advisers LLC, which invested approximately $267,000, and Belpointe Asset Management LLC, which purchased shares valued at about $232,000. Additionally, PFG Investments LLC acquired a new stake worth approximately $217,000.
Current Performance and Fund Profile
As of the latest trading session, shares of the Invesco New York AMT-Free Municipal Bond ETF opened at $22.32. The ETF has maintained a 50-day moving average price of $22.42 and a 200-day moving average price of $21.99. Over the past year, the ETF has experienced a 12-month low of $20.19 and a 12-month high of $23.80.
The Invesco New York AMT-Free Municipal Bond ETF, previously known as the PowerShares Insured New York Municipal Bond Portfolio, is designed to track the BofA Merrill Lynch New York Long-Term Core Plus Municipal Securities Index. The ETF invests at least 80% of its total assets in municipal securities that comprise this index, which includes investment-grade, tax-exempt debt publicly issued in the United States.
Investors looking for additional insights into the ETF and its current holdings can visit HoldingsChannel.com for the latest 13F filings and insider trades related to the Invesco New York AMT-Free Municipal Bond ETF. Subscribers can also receive a daily summary of news and analysts’ ratings for the ETF and related companies through MarketBeat.com’s free email newsletter.
