SPDR Nuveen Bloomberg Municipal Bond ETF Enters Oversold Territory

In trading on Wednesday, SPDR Nuveen Bloomberg Municipal Bond ETF (Symbol: TFI) shares dipped into oversold territory, reaching a low of $44.945 per share. The concept of “oversold territory” is determined by the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale from zero to 100. A stock is considered oversold when its RSI reading falls below 30.

For TFI, the RSI reading has dropped to 27.1. In contrast, the current RSI for the S&P 500 stands at 45.2. This lower RSI value for TFI suggests that the recent heavy selling may be nearing its end, prompting bullish investors to consider potential entry points for buying.

Reviewing TFI’s one-year performance, its 52-week low is $44.9433 per share with a high of $46.90. The latest trade recorded was at $44.95, indicating that shares are currently down approximately 0.5% on the day.

Click here to explore additional oversold dividend stocks worth noting »

Also see:

• Top Ten Hedge Funds Holding VBIV
• MRKR Historical Stock Prices
• DFH Videos

The views and opinions expressed herein are the author’s and do not necessarily reflect those of Nasdaq, Inc.