iShares Short-Term California Muni Active ETF (NASDAQ:CALI) Sees Strong Trading Volume – Here’s Why

iShares Short-Term California Muni Active ETF (NASDAQ:CALI) saw an uptick in trading volume on Monday. Approximately 137,479 shares traded hands during trading, an increase of 31% from the previous session’s volume of 104,780 shares. The stock last traded at $49.7450 and had previously closed at $49.83.

iShares Short-Term California Muni Active ETF Stock Performance

The firm has a market cap of $522.53 million, a P/E ratio of -149.58 and a beta of 0.05. The firm has a fifty day moving average of $50.29 and a 200-day moving average of $50.39.

iShares Short-Term California Muni Active ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, September 4th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.1003 per share. This is a negative change from iShares Short-Term California Muni Active ETF’s previous monthly dividend of $0.1046. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 1st.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Shah Wealth Advisors LLC purchased a new stake in iShares Short-Term California Muni Active ETF in the 2nd quarter valued at about $322,000. Union Savings Bank bought a new stake in iShares Short-Term California Muni Active ETF during the fourth quarter valued at about $350,000. Finally, McIlrath & Eck LLC purchased a new position in shares of iShares Short-Term California Muni Active ETF in the 1st quarter worth approximately $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.