Grove Bank & Trust Reduces Stake in iShares Muni Bond ETF

In a notable shift within its investment portfolio, Grove Bank & Trust has trimmed its holdings in the iShares National Muni Bond ETF (ticker NYSEARCA: MUB) by 4.4% during the third quarter. The latest Form 13F filing with the Securities and Exchange Commission (SEC) reveals that the firm sold 2,544 shares of the ETF, bringing its total ownership down to 55,319 shares. Following the sale, the fund represents approximately 1.2% of Grove Bank & Trust's total investment portfolio, ranking as its 19th largest holding.

By the conclusion of the most recent reporting period, the value of Grove Bank & Trust's investment in the iShares National Muni Bond ETF was estimated at $5,672,000. The ETF itself has experienced price fluctuations, trading up by $0.02 on a recent Thursday to a price of $108.32. With an average trading volume significantly higher, the ETF also maintains a 50-day moving average of $106.49 and a 200-day moving average of $105.28. Over the past year, the fund's price has ranged from a low of $100.78 to a high of $108.82.

Aside from Grove Bank & Trust, several other prominent investors have also adjusted their positions in MUB. For instance, Register Financial Advisors LLC and Fortis Capital Advisors LLC have both recently opened new stakes in the ETF, while Raleigh Capital Management Inc., PCA Investment Advisory Services Inc., and First Manhattan Co. have added to their portfolios as well, purchasing new holdings in recent quarters.

Understanding iShares National Muni Bond ETF

The iShares National Muni Bond ETF, formerly known as the iShares S&P National AMT-Free Municipal Bond Fund, is an exchange-traded fund that aims to replicate the performance of the S&P National AMT-Free Municipal Bond Index. Investors often consider this ETF for its exposure to national, AMT-free municipal bonds, seeking to add tax-efficient income to their investment strategies.

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