iShares California Muni Bond ETF (NYSEARCA:CMF) Reaches New 12-Month Low – What’s Next?

iShares California Muni Bond ETF (NYSEARCA:CMF) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $55.66 and last traded at $55.6520, with a volume of 200569 shares changing hands. The stock had previously closed at $55.75.

iShares California Muni Bond ETF Trading Down 0.3%

The business’s 50-day simple moving average is $56.72 and its two-hundred day simple moving average is $57.12.

Hedge Funds Weigh In On iShares California Muni Bond ETF

A number of institutional investors and hedge funds have recently modified their holdings of CMF. Envestnet Portfolio Solutions Inc. increased its stake in iShares California Muni Bond ETF by 33.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 359,418 shares of the company’s stock valued at $20,652,000 after purchasing an additional 89,679 shares in the last quarter. Thryve Wealth Management LLC bought a new stake in iShares California Muni Bond ETF during the fourth quarter worth $5,830,000. Integrity Investment Advisors LLC purchased a new position in shares of iShares California Muni Bond ETF in the 4th quarter worth about $704,000. Fifth Third Bancorp bought a new position in shares of iShares California Muni Bond ETF during the 1st quarter valued at approximately $3,980,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in iShares California Muni Bond ETF in the fourth quarter worth $563,000.

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.