BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Reaches New 12-Month High After Analyst Upgrade

Shares of BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) reached a new 52-week high during mid-day trading on Thursday after B. Riley upgraded the stock from a neutral rating to a buy rating. B. Riley now has a $19.00 price target on the stock, up from their previous price target of $11.00. BlackRock Short-Term California Muni Bond ETF traded as high as $16.65 and last traded at $15.90, with a volume of 2397689 shares. The stock had previously closed at $15.48.

CALY has been the topic of a number of other research reports. KeyCorp upgraded BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a report on Friday, January 16th. Zacks Research lowered BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th.

BlackRock Short-Term California Muni Bond ETF Stock Up 2.2%

The firm’s fifty day moving average price is $46.98 and its two-hundred day moving average price is $49.30. The stock has a market capitalization of $2.91 billion, a PE ratio of -1.93 and a beta of 0.92.

BlackRock Short-Term California Muni Bond ETF Company Profile

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.