iShares California Muni Bond ETF (NYSEARCA:CMF) Stock Short Interest Drops 84.9%

iShares California Muni Bond ETF (NYSEARCA:CMF) was the target of a significant drop in short interest in October. As of October 30th, there was short interest totaling 201,361 shares, a drop of 84.9% from the October 15th total of 1,332,409 shares. Based on an average daily trading volume, of 1,720,191 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the company’s stock are sold short.

iShares California Muni Bond ETF Stock Performance

Shares of NYSEARCA:CMF opened at $56.06 on Wednesday. The company has a fifty day simple moving average of $55.04 and a 200 day simple moving average of $56.71. iShares California Muni Bond ETF has a 12-month low of $53.62 and a 12-month high of $58.44.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wedmont Private Capital increased its holdings in iShares California Muni Bond ETF by 70.8% in the third quarter. Wedmont Private Capital now owns 242,626 shares of the company’s stock valued at $13,102,000 after buying an additional 100,574 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its holdings in iShares California Muni Bond ETF by 864.9% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 62,274 shares of the company’s stock worth $3,370,000 after buying an additional 55,820 shares during the last quarter. Boltwood Capital Management bought a new position in iShares California Muni Bond ETF during the 3rd quarter worth approximately $807,000. Fifth Third Bancorp bought a new stake in shares of iShares California Muni Bond ETF in the 1st quarter valued at approximately $3,980,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of iShares California Muni Bond ETF in the 3rd quarter valued at approximately $1,781,000.

iShares California Muni Bond ETF Company Profile

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.