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

iShares California Muni Bond ETF (NYSEARCA:CMF) saw unusually-high trading volume on Wednesday . 1,841,869 shares changed hands during mid-day trading, an increase of 231% from the previous session’s volume of 556,338 shares.The stock last traded at $55.1150 and had previously closed at $55.14.

iShares California Muni Bond ETF Price Performance

The company has a 50 day moving average of $56.49 and a 200 day moving average of $57.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMF. Van Hulzen Asset Management LLC lifted its holdings in shares of iShares California Muni Bond ETF by 17.3% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 5,935 shares of the company’s stock worth $342,000 after acquiring an additional 875 shares during the period. Engineers Gate Manager LP purchased a new stake in iShares California Muni Bond ETF in the second quarter valued at approximately $1,959,000. Summit Financial Strategies Inc. acquired a new position in iShares California Muni Bond ETF during the second quarter worth approximately $201,000. Integrated Wealth Concepts LLC increased its position in iShares California Muni Bond ETF by 28.7% during the second quarter. Integrated Wealth Concepts LLC now owns 52,445 shares of the company’s stock worth $3,023,000 after purchasing an additional 11,691 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in iShares California Muni Bond ETF by 14.5% during the second quarter. Baird Financial Group Inc. now owns 8,925 shares of the company’s stock worth $514,000 after purchasing an additional 1,133 shares during the last quarter.

iShares California Muni Bond ETF Company Profile

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.