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

iShares California Muni Bond ETF (NYSEARCA:CMF) reached a new 52-week high on Thursday . The stock traded as high as $57.93 and last traded at $57.8960, with a volume of 105630 shares changing hands. The stock had previously closed at $57.83.

iShares California Muni Bond ETF Stock Performance

The company has a 50-day moving average of $57.57 and a two-hundred day moving average of $56.98.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMF. Allworth Financial LP lifted its stake in iShares California Muni Bond ETF by 9.9% during the fourth quarter. Allworth Financial LP now owns 20,316 shares of the company’s stock worth $1,167,000 after purchasing an additional 1,824 shares during the period. Ndwm LLC increased its holdings in shares of iShares California Muni Bond ETF by 1.6% during the 4th quarter. Ndwm LLC now owns 80,755 shares of the company’s stock worth $4,640,000 after acquiring an additional 1,235 shares during the last quarter. Navalign LLC grew its position in shares of iShares California Muni Bond ETF by 0.7% during the 4th quarter. Navalign LLC now owns 187,112 shares of the company’s stock worth $10,751,000 after purchasing an additional 1,350 shares in the last quarter. Heritage Wealth Management Inc. CA lifted its holdings in shares of iShares California Muni Bond ETF by 4.6% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 48,987 shares of the company’s stock worth $2,815,000 after acquiring an additional 2,146 shares during the period. Finally, First Foundation Advisors increased its stake in shares of iShares California Muni Bond ETF by 5.9% in the fourth quarter. First Foundation Advisors now owns 367,283 shares of the company’s stock valued at $21,104,000 after buying an additional 20,356 shares during the period.

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.