iShares California Muni Bond ETF (NYSEARCA:CMF) Reaches New 52-Week High – Here’s Why

Shares of iShares California Muni Bond ETF (NYSEARCA:CMF) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $58.22 and last traded at $58.2650, with a volume of 371696 shares. The stock had previously closed at $58.18.

iShares California Muni Bond ETF Price Performance

The company has a fifty day moving average price of $57.77 and a two-hundred day moving average price of $57.25.

Hedge Funds Weigh In On iShares California Muni Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new stake in iShares California Muni Bond ETF in the fourth quarter valued at $67,285,000. Wealthfront Advisers LLC boosted its position in shares of 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 buying an additional 1,151,376 shares in the last quarter. Jane Street Group LLC grew its stake in 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 valued at $99,922,000 after acquiring an additional 760,870 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in iShares California Muni Bond ETF by 9.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,440,029 shares of the company’s stock valued at $484,964,000 after acquiring an additional 703,735 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in 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 valued at $93,589,000 after acquiring an additional 468,664 shares in 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.