BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Given New $17.00 Price Target at Truist Financial

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) had its target price lifted by Truist Financial from $12.00 to $17.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

CALY has been the subject of a number of other reports. B. Riley Financial upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $19.00 in a research note on Thursday, January 22nd. KeyCorp upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a report on Friday, January 16th. Finally, Zacks Research lowered BlackRock Short-Term California Muni Bond ETF from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th.

BlackRock Short-Term California Muni Bond ETF Price Performance

Shares of NASDAQ CALY opened at $14.65 on Tuesday. BlackRock Short-Term California Muni Bond ETF has a one year low of $5.42 and a one year high of $16.65. The business’s 50-day moving average price is $37.68 and its two-hundred day moving average price is $46.03. The company has a market capitalization of $2.69 billion, a P/E ratio of -1.79 and a beta of 0.96.

Insider Activity at BlackRock Short-Term California Muni Bond ETF

In other BlackRock Short-Term California Muni Bond ETF news, major shareholder Pep Tg Investments Gp Llc sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $14.70, for a total value of $147,000,000.00. Following the completion of the sale, the insider owned 11,175,226 shares in the company, valued at approximately $164,275,822.20. This trade represents a 47.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.49% of the company’s stock.

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.