Procyon Advisors LLC Increases Holdings in Vanguard Tax-Exempt Bond ETF

Procyon Advisors LLC has increased its investment in the Vanguard Tax-Exempt Bond ETF (NYSEARCA:VTEB) by 10.2% during the third quarter of the year, as indicated by their latest Form 13F filing with the Securities and Exchange Commission. Following this adjustment, Procyon Advisors now holds a total of 15,451 shares after acquiring an additional 1,434 shares in the quarter. By the end of this quarter, the value of their holdings in the Vanguard Tax-Exempt Bond ETF reached approximately $790,000.

This increase is part of a larger trend, as numerous other hedge funds and institutional investors have also recently made adjustments to their stakes in VTEB. For instance, Naples Money Management LLC initiated a new position in the ETF during the first quarter, investing around $34,000. Similarly, Verus Capital Partners LLC entered the market with a stake worth about $36,000 during the second quarter. Trust Co. of Vermont also joined in by acquiring a stake valued at approximately $37,000 in the fourth quarter. Other firms like Abich Financial Wealth Management LLC and City State Bank have also made new investments, contributing an additional $41,000 and $50,000, respectively, in the second quarter.

Overview of Vanguard Tax-Exempt Bond ETF

The Vanguard Tax-Exempt Bond ETF (VTEB) primarily invests in investment-grade fixed income securities. It aims to track a market-weighted index comprised of investment-grade debt that is issued by various state and local governments and their agencies. One key appeal of this ETF is that the interest income from its investments is exempt from U.S. income tax and from the alternative minimum tax (AMT). Launched on August 21, 2015, the ETF is managed by Vanguard.

Current Stock Performance of VTEB

As of Wednesday, the ETF opened at a price of $50.79. Over the past year, Vanguard Tax-Exempt Bond ETF reached a low of $47.14, while its high recorded was $51.17. Currently, it has a 50-day moving average of $50.84 and a 200-day moving average of $50.39, indicating a stable performance in the market.

Procyon, Vanguard, ETF