iShares California Muni Bond ETF (NYSEARCA:CMF) Reaches New 12-Month Low – Here’s Why

iShares California Muni Bond ETF (NYSEARCA:CMF)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $56.27 and last traded at $56.27, with a volume of 16260 shares trading hands. The stock had previously closed at $56.34.

iShares California Muni Bond ETF Stock Performance

The company has a fifty day simple moving average of $56.87 and a 200-day simple moving average of $57.30.

Hedge Funds Weigh In On iShares California Muni Bond ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Life Planning Partners Inc lifted its position in shares of iShares California Muni Bond ETF by 6,321.2% in the fourth quarter. Life Planning Partners Inc now owns 477,543 shares of the company’s stock worth $27,354,000 after purchasing an additional 470,106 shares in the last quarter. Bank of America Corp DE increased its stake in iShares California Muni Bond ETF by 24.7% in the 4th quarter. Bank of America Corp DE now owns 1,693,917 shares of the company’s stock valued at $97,028,000 after buying an additional 335,577 shares during the period. FMR LLC lifted its position in iShares California Muni Bond ETF by 4.6% in the 3rd quarter. FMR LLC now owns 5,909,686 shares of the company’s stock worth $343,412,000 after buying an additional 261,806 shares in the last quarter. Bailard Inc. boosted its stake in shares of iShares California Muni Bond ETF by 25.1% during the 4th quarter. Bailard Inc. now owns 1,063,062 shares of the company’s stock valued at $60,892,000 after buying an additional 213,617 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of iShares California Muni Bond ETF during the 4th quarter valued at $11,396,000.

iShares California Muni Bond ETF Company Profile

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.