iShares Short-Term California Muni Active ETF (NASDAQ:CALI) Trading 0% Higher – Still a Buy?

iShares Short-Term California Muni Active ETF (NASDAQ:CALI) shares traded up 0% on Wednesday . The company traded as high as $50.50 and last traded at $50.48. 17,934 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 29,372 shares. The stock had previously closed at $50.47.

iShares Short-Term California Muni Active ETF Trading Up 0.0%

The stock has a market cap of $174.16 million, a price-to-earnings ratio of -149.58 and a beta of 0.06. The company has a fifty day simple moving average of $50.55 and a 200-day simple moving average of $50.49.

iShares Short-Term California Muni Active ETF Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, December 1st were issued a dividend of $0.1152 per share. This is an increase from iShares Short-Term California Muni Active ETF’s previous dividend of $0.10. The ex-dividend date was Monday, December 1st.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CALI. Integrated Wealth Concepts LLC acquired a new stake in iShares Short-Term California Muni Active ETF during the 1st quarter valued at $1,080,000. Farther Finance Advisors LLC acquired a new stake in shares of iShares Short-Term California Muni Active ETF in the second quarter worth $242,000. Union Savings Bank grew its holdings in shares of iShares Short-Term California Muni Active ETF by 34.0% during the second quarter. Union Savings Bank now owns 6,554 shares of the company’s stock valued at $331,000 after buying an additional 1,662 shares in the last quarter. Cheviot Value Management LLC purchased a new position in shares of iShares Short-Term California Muni Active ETF during the second quarter valued at $88,000. Finally, JPMorgan Chase & Co. acquired a new position in iShares Short-Term California Muni Active ETF during the third quarter valued at $46,000.

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.