iShares California Muni Bond ETF (NYSEARCA:CMF) Sees Strong Trading Volume – Should You Buy?

Shares of iShares California Muni Bond ETF (NYSEARCA:CMF) saw strong trading volume on Thursday . 1,367,528 shares were traded during trading, an increase of 287% from the previous session’s volume of 352,937 shares.The stock last traded at $55.90 and had previously closed at $56.07.

iShares California Muni Bond ETF Price Performance

The stock has a 50-day simple moving average of $56.84 and a 200 day simple moving average of $57.27.

Hedge Funds Weigh In On iShares California Muni Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kingsview Wealth Management LLC raised its position in shares of iShares California Muni Bond ETF by 3.8% during the third quarter. Kingsview Wealth Management LLC now owns 5,784 shares of the company’s stock worth $336,000 after purchasing an additional 212 shares during the period. Larson Financial Group LLC increased its stake in iShares California Muni Bond ETF by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,500 shares of the company’s stock worth $87,000 after purchasing an additional 750 shares in the last quarter. Bank of Montreal Can raised its holdings in iShares California Muni Bond ETF by 4.4% during the 3rd quarter. Bank of Montreal Can now owns 143,977 shares of the company’s stock worth $8,375,000 after buying an additional 6,030 shares during the period. FMR LLC raised its holdings in iShares California Muni Bond ETF by 4.6% during the 3rd quarter. FMR LLC now owns 5,909,686 shares of the company’s stock worth $343,412,000 after buying an additional 261,806 shares during the period. Finally, Townsquare Capital LLC lifted its stake in iShares California Muni Bond ETF by 318.8% in the third quarter. Townsquare Capital LLC now owns 57,130 shares of the company’s stock valued at $3,320,000 after buying an additional 43,488 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.