iShares California Muni Bond ETF (NYSEARCA:CMF) Hits New 1-Year Low – Time to Sell?

Shares of iShares California Muni Bond ETF (NYSEARCA:CMF) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $55.04 and last traded at $55.0750, with a volume of 205142 shares traded. The stock had previously closed at $55.26.

iShares California Muni Bond ETF Stock Down 0.5%

The stock has a 50 day moving average of $56.40 and a two-hundred day moving average of $56.97.

Institutional Investors Weigh In On iShares California Muni Bond ETF

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