BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson Sells 20,000 Shares

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 20,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.64, for a total value of $272,800.00. Following the completion of the sale, the director owned 700,459 shares in the company, valued at $9,554,260.76. This trade represents a 2.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

BlackRock Short-Term California Muni Bond ETF Stock Up 2.2%

NASDAQ:CALY traded up $0.31 during trading hours on Friday, hitting $14.38. 1,351,877 shares of the company’s stock traded hands, compared to its average volume of 3,378,757. BlackRock Short-Term California Muni Bond ETF has a 52 week low of $5.42 and a 52 week high of $16.65. The business’s fifty day simple moving average is $32.53 and its two-hundred day simple moving average is $44.30. The firm has a market cap of $2.64 billion, a P/E ratio of -44.94 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.20. The business had revenue of $367.50 million during the quarter, compared to analysts’ expectations of $785.31 million. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.33) EPS.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. 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 target price for the company in a research report on Friday, January 16th. Truist Financial lifted their price objective on shares of BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. cut their target price on shares of BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. Zacks Research upgraded BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, B. Riley Financial raised BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $19.00 in a research note on Thursday, January 22nd.

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.