iShares California Muni Bond ETF (NYSEARCA:CMF) Sees Unusually-High Trading Volume – Time to Buy?

Shares of iShares California Muni Bond ETF (NYSEARCA:CMF) saw unusually-high trading volume on Thursday . Approximately 1,367,528 shares traded hands during mid-day trading, an increase of 287% from the previous session’s volume of 352,937 shares.The stock last traded at $55.90 and had previously closed at $56.07.

iShares California Muni Bond ETF Stock Down 0.3 %

The stock has a 50-day simple moving average of $56.86 and a 200 day simple moving average of $57.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthspire Advisors LLC boosted its holdings in iShares California Muni Bond ETF by 4.6% during the fourth quarter. Wealthspire Advisors LLC now owns 23,561 shares of the company’s stock valued at $1,350,000 after purchasing an additional 1,044 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in iShares California Muni Bond ETF by 15.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 411,303 shares of the company’s stock valued at $23,901,000 after buying an additional 53,700 shares in the last quarter. Stifel Financial Corp grew its position in iShares California Muni Bond ETF by 27.2% in the third quarter. Stifel Financial Corp now owns 17,202 shares of the company’s stock valued at $1,000,000 after acquiring an additional 3,681 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in iShares California Muni Bond ETF in the fourth quarter valued at $256,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in iShares California Muni Bond ETF by 54.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,040 shares of the company’s stock worth $1,223,000 after acquiring an additional 7,381 shares in the last quarter.

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.