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

iShares California Muni Bond ETF (NYSEARCA:CMF) shares saw an uptick in trading volume on Wednesday . 1,841,869 shares were traded during mid-day trading, an increase of 231% from the previous session’s volume of 556,338 shares.The stock last traded at $55.1150 and had previously closed at $55.14.

iShares California Muni Bond ETF Stock Up 0.3%

The firm’s 50 day simple moving average is $56.40 and its two-hundred day simple moving average is $56.97.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Van Hulzen Asset Management LLC grew its position in iShares California Muni Bond ETF by 17.3% during the second quarter. Van Hulzen Asset Management LLC now owns 5,935 shares of the company’s stock worth $342,000 after buying an additional 875 shares in the last quarter. Engineers Gate Manager LP acquired a new position in iShares California Muni Bond ETF in the 2nd quarter valued at $1,959,000. Summit Financial Strategies Inc. bought a new stake in shares of iShares California Muni Bond ETF during the 2nd quarter valued at $201,000. Integrated Wealth Concepts LLC grew its holdings in shares of iShares California Muni Bond ETF by 28.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 52,445 shares of the company’s stock worth $3,023,000 after purchasing an additional 11,691 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of iShares California Muni Bond ETF by 14.5% in the second quarter. Baird Financial Group Inc. now owns 8,925 shares of the company’s stock worth $514,000 after purchasing an additional 1,133 shares during the period.

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.