BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Upgraded at B. Riley

B. Riley upgraded shares of BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) from a neutral rating to a buy rating in a research note released on Thursday morning, Marketbeat reports. The brokerage currently has $19.00 price objective on the stock, up from their previous price objective of $11.00.

Several other research analysts have also recently issued reports on CALY. Zacks Research cut BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. KeyCorp raised shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price target on the stock in a research note on Friday, January 16th.

BlackRock Short-Term California Muni Bond ETF Stock Performance

CALY stock opened at $15.61 on Thursday. The firm has a market cap of $2.87 billion, a PE ratio of -1.91 and a beta of 0.92. The firm’s 50 day moving average price is $46.28 and its 200-day moving average price is $49.05. BlackRock Short-Term California Muni Bond ETF has a one year low of $5.42 and a one year high of $16.65.

About BlackRock Short-Term California Muni Bond ETF

The BlackRock Short-Term California Muni Bond ETF (CALY) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that primarily invests in municipal securities exempt from federal income taxes. It will hold short-term, investment grade Muni bonds issued in California while aiming for an effective portfolio duration equal to or less than 1.5 years. CALY was launched on Jul 11, 2023 and is issued by BlackRock.