BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Major Shareholder Sells $147,000,000.00 in Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) major shareholder Pep Tg Investments Gp Llc sold 10,000,000 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $14.70, for a total transaction of $147,000,000.00. Following the completion of the transaction, the insider directly owned 11,175,226 shares in the company, valued at approximately $164,275,822.20. The trade was a 47.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

BlackRock Short-Term California Muni Bond ETF Trading Down 1.1%

Shares of BlackRock Short-Term California Muni Bond ETF stock opened at $14.37 on Friday. The company has a market capitalization of $2.64 billion, a P/E ratio of -1.75 and a beta of 0.92. The stock has a fifty day simple moving average of $42.71 and a 200 day simple moving average of $47.83. BlackRock Short-Term California Muni Bond ETF has a 12-month low of $5.42 and a 12-month high of $16.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. B. Riley upgraded BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $19.00 in a research note on Thursday, January 22nd. Zacks Research downgraded BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Finally, KeyCorp raised BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research report on Friday, January 16th.

About BlackRock Short-Term California Muni Bond ETF

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.