PNC Financial Services Group Inc. Increases Stake in iShares National Muni Bond ETF

PNC Financial Services Group Inc. has reinforced its investment in the iShares National Muni Bond ETF (NYSEARCA:MUB), enhancing its holdings by 8.0% during the second quarter. This update emerges from the firm's latest 13F filing with the Securities and Exchange Commission (SEC). After this strategic move, the financial institution now holds 5,920,551 shares.

Investment Growth in iShares MUB

PNC Financial Services Group Inc.'s ownership amounted to 1.93% of the total iShares National Muni Bond ETF, with a value estimated at about $631.9 million at the end of the quarter. The firm added 440,733 shares to its portfolio during this period.

Other institutional investors and hedge funds have also revised their investments in MUB. Cambridge Investment Research Advisors Inc. raised its holdings by 3.9%, with current ownership of 235,547 shares valued at $25.14 million. Old North State Trust LLC initiated a new position, and Clearbridge Investments LLC expanded its stake by 2.8%. My Legacy Advisors LLC's ownership increased by 4.1%, while Leavell Investment Management Inc. established a new investment within the same quarter.

Market Movement of iShares MUB

The ETF's stock saw an uptick of $0.11 during midday trading on a recent Tuesday, with a trading price of $105.29. MUB's performance has varied, with a fifty-two week low of $100.78 and a high of $108.66. It holds a fifty-day moving average of $102.85 and a two-hundred-day moving average of $105.00.

About iShares National Muni Bond ETF

The iShares National AMT-Free Muni Bond ETF aims to mirror the performance of the S&P National AMT-Free Municipal Bond Index. As an exchange-traded fund (ETF), it offers investors exposure to a diversified portfolio of municipal bonds exempt from the alternative minimum tax (AMT).

PNC, iShares, ETF