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

iShares California Muni Bond ETF (NYSEARCA:CMF) saw unusually-strong trading volume on Thursday . Approximately 1,456,867 shares were traded during trading, an increase of 413% from the previous session’s volume of 284,038 shares.The stock last traded at $56.74 and had previously closed at $57.02.

iShares California Muni Bond ETF Stock Down 0.4 %

The company’s fifty day simple moving average is $57.52 and its 200-day simple moving average is $57.49.

Institutional Investors Weigh In On iShares California Muni Bond ETF

A number of large investors have recently bought and sold shares of CMF. Ballast Advisors LLC acquired a new position in shares of iShares California Muni Bond ETF in the 3rd quarter valued at $29,000. Angeles Wealth Management LLC grew its position in shares of iShares California Muni Bond ETF by 107.5% during the 2nd quarter. Angeles Wealth Management LLC now owns 583 shares of the company’s stock valued at $33,000 after acquiring an additional 302 shares during the period. Aptus Capital Advisors LLC acquired a new stake in shares of iShares California Muni Bond ETF during the 2nd quarter valued at about $40,000. Rothschild Investment LLC purchased a new position in shares of iShares California Muni Bond ETF in the 2nd quarter valued at about $43,000. Finally, Larson Financial Group LLC acquired a new position in iShares California Muni Bond ETF in the 2nd quarter worth about $43,000.

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.