iShares Short-Term California Muni Active ETF (NASDAQ:CALI) Sees Significant Decrease in Short Interest

iShares Short-Term California Muni Active ETF (NASDAQ:CALI) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 64,050 shares, a decrease of 38.6% from the August 31st total of 104,397 shares. Based on an average daily volume of 147,961 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.6% of the shares of the stock are sold short.

iShares Short-Term California Muni Active ETF Stock Down 0.1%

Shares of CALI stock opened at $49.76 on Thursday. The stock has a market cap of $537.35 million, a P/E ratio of -149.58 and a beta of 0.05. iShares Short-Term California Muni Active ETF has a 52 week low of $49.66 and a 52 week high of $51.39. The company’s fifty day simple moving average is $50.25 and its two-hundred day simple moving average is $50.37.

iShares Short-Term California Muni Active ETF Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.1043 per share. The ex-dividend date of this dividend is Thursday, October 1st. This is an increase from iShares Short-Term California Muni Active ETF’s previous monthly dividend of $0.1003. This represents a $1.25 annualized dividend and a yield of 2.5%.

Hedge Funds Weigh In On iShares Short-Term California Muni Active ETF

Hedge funds have recently added to or reduced their stakes in the company. Shah Wealth Advisors LLC bought a new position in shares of iShares Short-Term California Muni Active ETF during the second quarter valued at approximately $322,000. Union Savings Bank purchased a new position in shares of iShares Short-Term California Muni Active ETF during the fourth quarter valued at $350,000. Finally, McIlrath & Eck LLC bought a new position in iShares Short-Term California Muni Active ETF during the 1st quarter worth about $1,390,000.

About iShares Short-Term California Muni Active ETF

The iShares Short-Term California Muni Active ETF (CALI) is an exchange-traded fund that mostly invests in investment grade fixed income. CALY 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. CALI was launched on Jul 11, 2023 and is issued by BlackRock.