iShares California Muni Bond ETF (NYSEARCA:CMF) Sees Large Volume Increase – Still a Buy?

iShares California Muni Bond ETF (NYSEARCA:CMF) shares saw unusually-high trading volume on Wednesday . 2,325,786 shares traded hands during trading, an increase of 294% from the previous session’s volume of 589,695 shares.The stock last traded at $54.6750 and had previously closed at $55.03.

iShares California Muni Bond ETF Stock Performance

The company’s 50-day moving average price is $56.27 and its two-hundred day moving average price is $56.91.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Legacy Wealth Managment LLC ID raised its holdings in shares of iShares California Muni Bond ETF by 11.9% in the first quarter. Legacy Wealth Managment LLC ID now owns 1,793 shares of the company’s stock valued at $102,000 after purchasing an additional 191 shares during the last quarter. Caldwell Trust Co purchased a new stake in iShares California Muni Bond ETF in the first quarter worth $122,000. Root Financial Partners LLC increased its holdings in iShares California Muni Bond ETF by 197.0% in the 4th quarter. Root Financial Partners LLC now owns 2,314 shares of the company’s stock worth $133,000 after acquiring an additional 1,535 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of iShares California Muni Bond ETF in the second quarter valued at approximately $139,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of iShares California Muni Bond ETF by 89.7% during the first quarter. Geneos Wealth Management Inc. now owns 2,684 shares of the company’s stock worth $153,000 after acquiring an additional 1,269 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. 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.