iShares California Muni Bond ETF (NYSEARCA:CMF) Sees Strong Trading Volume – Still a Buy?

iShares California Muni Bond ETF (NYSEARCA:CMF) saw an uptick in trading volume on Tuesday . 636,485 shares traded hands during trading, an increase of 182% from the previous session’s volume of 225,438 shares.The stock last traded at $57.37 and had previously closed at $57.50.

iShares California Muni Bond ETF Trading Down 0.8 %

The business’s fifty day moving average price is $57.78 and its 200-day moving average price is $57.30.

Hedge Funds Weigh In On iShares California Muni Bond ETF

Several institutional investors have recently modified their holdings of CMF. Charles Schwab Investment Advisory Inc. lifted its stake in shares of iShares California Muni Bond ETF by 5.5% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 9,582,583 shares of the company’s stock valued at $551,382,000 after acquiring an additional 498,699 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of iShares California Muni Bond ETF by 0.9% in the second quarter. EP Wealth Advisors LLC now owns 1,273,710 shares of the company’s stock worth $72,449,000 after buying an additional 11,062 shares during the period. Bailard Inc. boosted its position in iShares California Muni Bond ETF by 7.5% during the 2nd quarter. Bailard Inc. now owns 712,097 shares of the company’s stock valued at $40,504,000 after buying an additional 49,388 shares during the period. TIAA Trust National Association grew its holdings in iShares California Muni Bond ETF by 0.9% in the 2nd quarter. TIAA Trust National Association now owns 647,570 shares of the company’s stock worth $36,834,000 after acquiring an additional 5,990 shares during the last quarter. Finally, First Foundation Advisors grew its holdings in iShares California Muni Bond ETF by 1.0% in the 2nd quarter. First Foundation Advisors now owns 561,734 shares of the company’s stock worth $31,951,000 after acquiring an additional 5,310 shares during 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.