iShares California Muni Bond ETF (NYSEARCA:CMF) Sees Large Decline in Short Interest

iShares California Muni Bond ETF (NYSEARCA:CMF) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 37,823 shares, a decrease of 94.0% from the July 15th total of 625,382 shares. Based on an average daily trading volume, of 507,800 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

iShares California Muni Bond ETF Price Performance

CMF traded up $0.04 during midday trading on Tuesday, hitting $56.83. 400,330 shares of the company’s stock traded hands, compared to its average volume of 480,700. The stock’s fifty day simple moving average is $57.16 and its 200-day simple moving average is $57.35. iShares California Muni Bond ETF has a one year low of $55.56 and a one year high of $58.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CMF. Farther Finance Advisors LLC lifted its position in shares of iShares California Muni Bond ETF by 601.7% in the fourth quarter. Farther Finance Advisors LLC now owns 131,601 shares of the company’s stock worth $7,562,000 after buying an additional 112,846 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of iShares California Muni Bond ETF by 33.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 359,418 shares of the company’s stock valued at $20,652,000 after acquiring an additional 89,679 shares during the last quarter. Manhattan West Asset Management LLC increased its holdings in shares of iShares California Muni Bond ETF by 3.5% during the 4th quarter. Manhattan West Asset Management LLC now owns 363,294 shares of the company’s stock valued at $20,875,000 after acquiring an additional 12,321 shares during the last quarter. Thryve Wealth Management LLC bought a new position in shares of iShares California Muni Bond ETF in the 4th quarter valued at approximately $5,830,000. Finally, Fifth Third Bancorp acquired a new stake in iShares California Muni Bond ETF in the 1st quarter worth approximately $3,980,000.

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.