Truist Financial Issues Positive Forecast for BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Stock Price

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) had its price objective upped by equities researchers at Truist Financial from $12.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 13.71% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. B. Riley Financial raised BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $19.00 in a report on Thursday, January 22nd. KeyCorp upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a report on Friday, January 16th. Finally, Zacks Research cut shares of BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th.

BlackRock Short-Term California Muni Bond ETF Stock Down 0.4%

CALY opened at $14.95 on Tuesday. The business’s fifty day simple moving average is $38.40 and its 200 day simple moving average is $46.28. BlackRock Short-Term California Muni Bond ETF has a 52 week low of $5.42 and a 52 week high of $16.65. The stock has a market cap of $2.75 billion, a PE ratio of -1.83 and a beta of 0.96.

Insider Transactions at BlackRock Short-Term California Muni Bond ETF

In related news, major shareholder Pep Tg Investments Gp Llc sold 10,000,000 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $14.70, for a total transaction of $147,000,000.00. Following the transaction, the insider owned 11,175,226 shares in the company, valued at $164,275,822.20. The trade was a 47.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.49% of the stock is currently owned by corporate insiders.

BlackRock Short-Term California Muni Bond ETF Company Profile

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.