Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ) Hits New 12-Month Low – Should You Sell?

Invesco California AMT-Free Municipal Bond ETF (NYSEARCA:PWZ) hit a new 52-week low on Monday . The stock traded as low as $24.25 and last traded at $24.25, with a volume of 33124 shares trading hands. The stock had previously closed at $24.40.

Invesco California AMT-Free Municipal Bond ETF Stock Performance

The business has a 50 day simple moving average of $24.84 and a 200-day simple moving average of $24.90.

Hedge Funds Weigh In On Invesco California AMT-Free Municipal Bond ETF

A number of hedge funds have recently bought and sold shares of PWZ. Commonwealth Equity Services LLC increased its position in shares of Invesco California AMT-Free Municipal Bond ETF by 77.1% during the second quarter. Commonwealth Equity Services LLC now owns 41,663 shares of the company’s stock valued at $1,028,000 after acquiring an additional 18,135 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Invesco California AMT-Free Municipal Bond ETF by 30.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 834,585 shares of the company’s stock worth $20,589,000 after buying an additional 194,154 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Invesco California AMT-Free Municipal Bond ETF during the second quarter worth about $89,000. Sanctuary Advisors LLC bought a new position in shares of Invesco California AMT-Free Municipal Bond ETF during the 2nd quarter valued at approximately $591,000. Finally, GAMMA Investing LLC purchased a new stake in Invesco California AMT-Free Municipal Bond ETF in the third quarter worth $269,000.

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.