iShares California Muni Bond ETF (NYSEARCA:CMF) Sets New 12-Month High – What’s Next?

iShares California Muni Bond ETF (NYSEARCA:CMF) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.08 and last traded at $58.05, with a volume of 441749 shares changing hands. The stock had previously closed at $57.96.

iShares California Muni Bond ETF Stock Performance

The firm’s 50-day moving average is $57.64 and its two-hundred day moving average is $57.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealthfront Advisers LLC lifted its stake in iShares California Muni Bond ETF by 29.1% in the 4th quarter. Wealthfront Advisers LLC now owns 5,109,731 shares of the company’s stock worth $293,605,000 after purchasing an additional 1,151,376 shares in the last quarter. Jane Street Group LLC increased its stake in shares of iShares California Muni Bond ETF by 73.7% in the 2nd quarter. Jane Street Group LLC now owns 1,792,639 shares of the company’s stock worth $99,922,000 after acquiring an additional 760,870 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of iShares California Muni Bond ETF by 40.0% during the 3rd quarter. Bank of America Corp DE now owns 1,640,770 shares of the company’s stock worth $93,589,000 after acquiring an additional 468,664 shares during the period. Facet Wealth Inc. boosted its position in shares of iShares California Muni Bond ETF by 7.5% during the 4th quarter. Facet Wealth Inc. now owns 1,497,857 shares of the company’s stock valued at $86,606,000 after acquiring an additional 105,068 shares during the last quarter. Finally, Bailard Inc. boosted its position in shares of iShares California Muni Bond ETF by 0.3% during the 4th quarter. Bailard Inc. now owns 1,439,125 shares of the company’s stock valued at $82,692,000 after acquiring an additional 4,372 shares during the last quarter.

About iShares California Muni Bond ETF

iShares California AMT-Free Muni Bond ETF (the Fund), formerly iShares S&P California AMT-Free Municipal Bond Fund, is an exchange-traded fund (ETF). The Fund seeks to track the investment results of the S&P California AMT-Free Municipal Bond Index (the Index), which measures the performance of the investment-grade segment of the California municipal bond market and the components primarily include transportation and utilities companies. The Index is a subset of the S&P National AMT-Free Municipal Bond Index and is consists of municipal bonds issued in the State of California.