iShares California Muni Bond ETF (NYSEARCA:CMF) Sees Large Decline in Short Interest

iShares California Muni Bond ETF (NYSEARCA:CMF) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 37,823 shares, a drop of 94.0% from the July 15th total of 625,382 shares. Based on an average daily volume of 507,800 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Institutional Investors Weigh In On iShares California Muni Bond ETF

A number of hedge funds have recently bought and sold shares of CMF. EP Wealth Advisors LLC acquired a new stake in shares of iShares California Muni Bond ETF in the fourth quarter valued at about $67,285,000. Wealthfront Advisers LLC increased its stake in shares of iShares California Muni Bond ETF by 29.1% in the fourth 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 during the period. Jane Street Group LLC increased its stake in shares of iShares California Muni Bond ETF by 73.7% in the second quarter. Jane Street Group LLC now owns 1,792,639 shares of the company’s stock worth $99,922,000 after purchasing an additional 760,870 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of iShares California Muni Bond ETF by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,440,029 shares of the company’s stock worth $484,964,000 after purchasing an additional 703,735 shares during the last quarter. Finally, Bank of America Corp DE lifted its position 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 purchasing an additional 468,664 shares during the last quarter.

iShares California Muni Bond ETF Price Performance

Shares of NYSEARCA CMF traded up $0.04 during trading hours on Tuesday, hitting $56.83. 400,330 shares of the stock were exchanged, compared to its average volume of 480,700. iShares California Muni Bond ETF has a one year low of $55.56 and a one year high of $58.44. The company’s 50 day moving average is $57.16 and its 200 day moving average is $57.35.

iShares California Muni Bond ETF Company Profile

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.