iShares California Muni Bond ETF (NYSEARCA:CMF) Sets New 52-Week Low – Should You Sell?

iShares California Muni Bond ETF (NYSEARCA:CMF)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $55.04 and last traded at $55.0750, with a volume of 205142 shares. The stock had previously closed at $55.26.

iShares California Muni Bond ETF Stock Performance

The stock’s 50 day moving average price is $56.40 and its 200-day moving average price is $56.97.

Hedge Funds Weigh In On iShares California Muni Bond ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Wealth Managment LLC ID raised its stake in shares of iShares California Muni Bond ETF by 11.9% during the first quarter. Legacy Wealth Managment LLC ID now owns 1,793 shares of the company’s stock worth $102,000 after purchasing an additional 191 shares during the last quarter. Shira Ridge Wealth Management increased its stake in iShares California Muni Bond ETF by 2.1% in the 2nd quarter. Shira Ridge Wealth Management now owns 14,749 shares of the company’s stock valued at $850,000 after buying an additional 301 shares during the period. Tillman Hartley LLC raised its position in iShares California Muni Bond ETF by 1.9% during the 4th quarter. Tillman Hartley LLC now owns 19,126 shares of the company’s stock worth $1,099,000 after buying an additional 358 shares during the last quarter. DeLarme Wealth Management Inc. raised its position in iShares California Muni Bond ETF by 6.7% during the 1st quarter. DeLarme Wealth Management Inc. now owns 6,475 shares of the company’s stock worth $368,000 after buying an additional 405 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in shares of iShares California Muni Bond ETF by 0.8% in the 1st quarter. Warren Street Wealth Advisors LLC now owns 54,859 shares of the company’s stock worth $3,119,000 after acquiring an additional 428 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.