Clearwater Investment Trust Buys Nuveen Quality Municipal Income Fund, Nuveen New Jersey Quality Municipal Income Fund, Invesco Pennsylvania Value Municipal Income Trust, Sells Blackrock Muniyield Investment Quality Fund, Blackrock Muni Enhanced Fund Inc,

• New Purchases: NXJ, VPV, MQY, BLE,
• Added Positions: NAD, IIM, NQP, NEA, IQI, MFL, DSM,
• Reduced Positions: BYM, VGM, PMO, VKI,
• Sold Out: MFT, MEN,

For the details of Clearwater Tax-Exempt Bond Fund's stock buys and sells, go to https://www.gurufocus.com/guru/clearwater+tax-exempt+bond+fund/current-portfolio/portfolio

1. Nuveen AMT-Free Municipal Income Fund (NEA) - 345,957 shares, 12.92% of the total portfolio. Shares added by 4.20%
2. Nuveen Quality Municipal Income Fund (NAD) - 316,457 shares, 12.06% of the total portfolio. Shares added by 29.28%
3. Blackrock Muniyield Michigan Quality Fund Inc (MIY) - 157,958 shares, 5.79% of the total portfolio.
4. Invesco Quality Municipal Income Trust (IQI) - 175,986 shares, 5.65% of the total portfolio. Shares added by 6.73%
5. Blackrock Long-term Municipal AdtgTrust (BTA) - 171,624 shares, 5.56% of the total portfolio. Shares reduced by 0.12%

Clearwater Investment Trust initiated holding in Nuveen New Jersey Quality Municipal Income Fund. The purchase prices were between $14.48 and $15.59, with an estimated average price of $15.07. The stock is now traded at around $15.730000. The impact to a portfolio due to this purchase was 1.56%. The holding were 41,980 shares as of 2021-06-30.

Clearwater Investment Trust initiated holding in Invesco Pennsylvania Value Municipal Income Trust. The purchase prices were between $12.97 and $13.4, with an estimated average price of $13.21. The stock is now traded at around $13.320000. The impact to a portfolio due to this purchase was 0.96%. The holding were 30,303 shares as of 2021-06-30.

Clearwater Investment Trust initiated holding in Blackrock Muniyield Quality Fund Inc. The purchase prices were between $15.89 and $16.88, with an estimated average price of $16.33. The stock is now traded at around $16.650000. The impact to a portfolio due to this purchase was 0.5%. The holding were 12,559 shares as of 2021-06-30.

Clearwater Investment Trust initiated holding in Blackrock Municipal Income Trust II. The purchase prices were between $15.06 and $15.83, with an estimated average price of $15.36. The stock is now traded at around $15.790000. The impact to a portfolio due to this purchase was 0.3%. The holding were 7,902 shares as of 2021-06-30.

Clearwater Investment Trust added to a holding in Nuveen Quality Municipal Income Fund by 29.28%. The purchase prices were between $15.14 and $16.01, with an estimated average price of $15.54. The stock is now traded at around $16.270000. The impact to a portfolio due to this purchase was 2.73%. The holding were 316,457 shares as of 2021-06-30.

Clearwater Investment Trust added to a holding in Invesco Value Municipal Income Trust by 37.16%. The purchase prices were between $15.67 and $16.49, with an estimated average price of $16.09. The stock is now traded at around $17.110000. The impact to a portfolio due to this purchase was 0.81%. The holding were 76,034 shares as of 2021-06-30.

Clearwater Investment Trust added to a holding in Nuveen Pennsylvania Quality Municipal Income Fund by 40.71%. The purchase prices were between $14.36 and $15.1, with an estimated average price of $14.69. The stock is now traded at around $15.010000. The impact to a portfolio due to this purchase was 0.77%. The holding were 74,266 shares as of 2021-06-30.

Clearwater Investment Trust sold out a holding in Blackrock Muniyield Investment Quality Fund. The sale prices were between $14.5 and $14.75, with an estimated average price of $14.58.

Clearwater Investment Trust sold out a holding in Blackrock Muni Enhanced Fund Inc. The sale prices were between $11.82 and $12.08, with an estimated average price of $11.99.

Clearwater Investment Trust reduced to a holding in Putnam Municipal Opportunities Trust by 37.67%. The sale prices were between $13.38 and $14.18, with an estimated average price of $13.92. The stock is now traded at around $14.250000. The impact to a portfolio due to this sale was -0.16%. Clearwater Investment Trust still held 7,436 shares as of 2021-06-30.