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

iShares California Muni Bond ETF (NYSEARCA:CMF) shares saw unusually-high trading volume on Thursday . Approximately 1,456,867 shares were traded during trading, an increase of 413% from the previous session’s volume of 284,038 shares.The stock last traded at $56.74 and had previously closed at $57.02.

iShares California Muni Bond ETF Stock Performance

The company’s 50-day moving average is $57.52 and its 200-day moving average is $57.49.

Institutional Trading of iShares California Muni Bond ETF

Several institutional investors have recently made changes to their positions in CMF. Wealth Enhancement Advisory Services LLC increased its position in shares of iShares California Muni Bond ETF by 18.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,524 shares of the company’s stock worth $655,000 after purchasing an additional 1,757 shares during the last quarter. Diversified LLC purchased a new stake in shares of iShares California Muni Bond ETF in the 2nd quarter valued at approximately $236,000. Capital Insight Partners LLC acquired a new position in shares of iShares California Muni Bond ETF in the 2nd quarter worth approximately $553,000. Destination Wealth Management boosted its position in shares of iShares California Muni Bond ETF by 22.9% during the 2nd quarter. Destination Wealth Management now owns 13,376 shares of the company’s stock worth $761,000 after purchasing an additional 2,496 shares during the period. Finally, SimpliFi Inc. increased its holdings in iShares California Muni Bond ETF by 1.6% in the 2nd quarter. SimpliFi Inc. now owns 24,628 shares of the company’s stock valued at $1,401,000 after purchasing an additional 389 shares during the last quarter.

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.