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

iShares California Muni Bond ETF (NYSEARCA:CMF) shares saw unusually-strong trading volume on Tuesday . Approximately 892,101 shares changed hands during trading, an increase of 88% from the previous session’s volume of 473,514 shares.The stock last traded at $56.68 and had previously closed at $57.01.

iShares California Muni Bond ETF Stock Down 0.6%

The business has a 50-day moving average of $57.83 and a 200-day moving average of $57.50.

Institutional Investors Weigh In On iShares California Muni Bond ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its holdings in shares of iShares California Muni Bond ETF by 136.4% in the 4th quarter. Hsbc Holdings PLC now owns 22,613 shares of the company’s stock valued at $1,299,000 after buying an additional 13,049 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of iShares California Muni Bond ETF by 4.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 26,142 shares of the company’s stock valued at $1,502,000 after purchasing an additional 1,156 shares during the period. Corient Private Wealth LLC lifted its stake in iShares California Muni Bond ETF by 234.9% in the 4th quarter. Corient Private Wealth LLC now owns 32,168 shares of the company’s stock valued at $1,848,000 after purchasing an additional 22,562 shares during the last quarter. Union Savings Bank bought a new position in iShares California Muni Bond ETF during the fourth quarter worth about $457,000. Finally, Instrumental Wealth LLC grew its holdings in iShares California Muni Bond ETF by 3.5% during the fourth quarter. Instrumental Wealth LLC now owns 13,581 shares of the company’s stock worth $793,000 after purchasing an additional 463 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.