iShares California Muni Bond ETF (NYSEARCA:CMF) Sets New 1-Year High – Time to Buy?

iShares California Muni Bond ETF (NYSEARCA:CMF) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.08 and last traded at $58.05, with a volume of 441749 shares changing hands. The stock had previously closed at $57.96.

iShares California Muni Bond ETF Trading Up 0.2%

The firm has a 50-day moving average of $57.61 and a two-hundred day moving average of $57.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC grew its holdings in shares of iShares California Muni Bond ETF by 35.8% during the 1st quarter. AQR Capital Management LLC now owns 8,556 shares of the company’s stock valued at $482,000 after purchasing an additional 2,256 shares during the last quarter. US Bancorp DE lifted its stake in iShares California Muni Bond ETF by 12.0% in the 2nd quarter. US Bancorp DE now owns 66,807 shares of the company’s stock valued at $3,724,000 after purchasing an additional 7,184 shares during the last quarter. CWM LLC boosted its position in iShares California Muni Bond ETF by 16.1% in the second quarter. CWM LLC now owns 123,259 shares of the company’s stock valued at $6,870,000 after buying an additional 17,070 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in iShares California Muni Bond ETF by 16.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 239,443 shares of the company’s stock valued at $13,347,000 after buying an additional 34,700 shares in the last quarter. Finally, Elmwood Wealth Management Inc. grew its stake in shares of iShares California Muni Bond ETF by 1.5% during the second quarter. Elmwood Wealth Management Inc. now owns 66,175 shares of the company’s stock worth $3,689,000 after buying an additional 1,010 shares during the last quarter.

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.