iShares California Muni Bond ETF (NYSEARCA:CMF) Reaches New 52-Week High – Still a Buy?

iShares California Muni Bond ETF (NYSEARCA:CMF) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.81 and last traded at $57.78, with a volume of 665075 shares. The stock had previously closed at $57.78.

iShares California Muni Bond ETF Stock Performance

The firm’s 50-day moving average price is $57.47 and its two-hundred day moving average price is $56.71.

Hedge Funds Weigh In On iShares California Muni Bond ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. WFA of San Diego LLC acquired a new stake in shares of iShares California Muni Bond ETF during the 2nd quarter worth approximately $26,000. Rosenberg Matthew Hamilton purchased a new position in iShares California Muni Bond ETF in the fourth quarter worth approximately $30,000. Blue Trust Inc. purchased a new position in iShares California Muni Bond ETF in the third quarter worth approximately $40,000. Root Financial Partners LLC acquired a new stake in iShares California Muni Bond ETF during the third quarter worth $44,000. Finally, Founders Financial Alliance LLC purchased a new stake in iShares California Muni Bond ETF in the third quarter valued at $58,000.

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. 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.