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

Shares of iShares California Muni Bond ETF (NYSEARCA:CMF) saw an uptick in trading volume on Tuesday . 401,006 shares changed hands during trading, an increase of 67% from the previous session’s volume of 240,717 shares.The stock last traded at $57.32 and had previously closed at $57.33.

iShares California Muni Bond ETF Trading Up 0.6 %

The business has a 50-day moving average price of $57.67 and a two-hundred day moving average price of $57.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CMF. Wealth Enhancement Advisory Services LLC boosted its position in iShares California Muni Bond ETF by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,767 shares of the company’s stock worth $562,000 after acquiring an additional 203 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in iShares California Muni Bond ETF by 45.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 84,689 shares of the company’s stock valued at $4,873,000 after buying an additional 26,566 shares in the last quarter. PFG Advisors increased its stake in iShares California Muni Bond ETF by 25.6% during the 1st quarter. PFG Advisors now owns 6,077 shares of the company’s stock valued at $350,000 after buying an additional 1,237 shares during the period. Topel & Distasi Wealth Management LLC raised its position in shares of iShares California Muni Bond ETF by 55.8% during the 1st quarter. Topel & Distasi Wealth Management LLC now owns 16,993 shares of the company’s stock worth $978,000 after buying an additional 6,083 shares in the last quarter. Finally, Facet Wealth Inc. lifted its stake in shares of iShares California Muni Bond ETF by 60.3% in the 1st quarter. Facet Wealth Inc. now owns 463,495 shares of the company’s stock worth $26,461,000 after acquiring an additional 174,372 shares during the period.

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.