iShares California Muni Bond ETF (NYSEARCA:CMF) Reaches New 52-Week Low – Should You Sell?

iShares California Muni Bond ETF (NYSEARCA:CMF) reached a new 52-week low on Wednesday . The stock 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 0.6%

The stock’s fifty day simple moving average is $56.63 and its two-hundred day simple moving average is $57.08.

Institutional Trading of iShares California Muni Bond ETF

Several institutional investors have recently added to or reduced their stakes in CMF. Charles Schwab Investment Management Inc. grew its holdings in iShares California Muni Bond ETF by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,440,029 shares of the company’s stock worth $484,964,000 after acquiring an additional 703,735 shares during the period. Wealthfront Advisers LLC raised its position in iShares California Muni Bond ETF by 21.3% in the 1st quarter. Wealthfront Advisers LLC now owns 6,199,721 shares of the company’s stock valued at $352,516,000 after buying an additional 1,089,990 shares during the last quarter. Jane Street Group LLC lifted its position in shares of iShares California Muni Bond ETF by 73.7% during the second quarter. Jane Street Group LLC now owns 1,792,639 shares of the company’s stock valued at $99,922,000 after purchasing an additional 760,870 shares in the last quarter. Morgan Stanley lifted its position in shares of iShares California Muni Bond ETF by 1.2% during the 4th quarter. Morgan Stanley now owns 1,790,589 shares of the company’s stock worth $102,887,000 after buying an additional 20,936 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in iShares California Muni Bond ETF by 40.0% in the third quarter. Bank of America Corp DE now owns 1,640,770 shares of the company’s stock worth $93,589,000 after purchasing an additional 468,664 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.