BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson Sells 40,000 Shares of Stock

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) Director Erik Anderson sold 40,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $13.43, for a total transaction of $537,200.00. Following the transaction, the director directly owned 720,459 shares in the company, valued at $9,675,764.37. This trade represents a 5.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BlackRock Short-Term California Muni Bond ETF Trading Up 3.8%

Shares of CALY traded up $0.51 during trading hours on Thursday, reaching $14.00. The stock had a trading volume of 3,338,921 shares, compared to its average volume of 3,444,504. The firm has a 50-day simple moving average of $33.26 and a 200 day simple moving average of $44.52. BlackRock Short-Term California Muni Bond ETF has a 12 month low of $5.42 and a 12 month high of $16.65. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -43.75 and a beta of 0.96.

BlackRock Short-Term California Muni Bond ETF (NASDAQ:CALY) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.20. The business had revenue of $367.50 million for the quarter, compared to the consensus estimate of $785.31 million. During the same quarter last year, the firm posted ($0.33) EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CALY shares. Zacks Research upgraded BlackRock Short-Term California Muni Bond ETF from a “hold” rating to a “strong-buy” rating in a report on Monday. Truist Financial upped their target price on shares of BlackRock Short-Term California Muni Bond ETF from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. 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 target price for the company in a report on Friday, January 16th. B. Riley Financial upgraded shares of BlackRock Short-Term California Muni Bond ETF from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $19.00 in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of BlackRock Short-Term California Muni Bond ETF from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday.

About BlackRock Short-Term California Muni Bond ETF

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.