$CALI is interesting. Still reading more between 2016 - 2018Market cap of $14Mn only? Something is off here..
Key stats
About iShares Short-Term California Muni Active ETF
Expense ratio
0.20%
Home page
Inception date
Jul 11, 2023
CALI actively invests in a portfolio of fixed and floating-rate municipal securities, including Muni bonds, municipal notes, and variable rate demand obligations, all issued in the State of California. It seeks tax-exempt income while aiming to reduce tax obligations and manage interest rate risk. To achieve this, the fund holds short-term, USD-denominated securities with investment grade rating, and remaining maturities of 5 years or less. On the other hand, it expects an effective portfolio duration of no more than 1.5 years and targets a weighted average maturity of less than three years. The fund is actively managed, which means investment decisions are at the discretion of the manager and it may also have a higher degree of portfolio turnover than an index-tracking fund. Prior to October 10, 2024, the fund used Blackrock for branding purposes instead of iShares and had a ticker of CALY.
Classification
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal98.75%
Cash1.02%
Mutual fund0.24%
Class-Action lawsuit 'potentially' may make this sky-rocket.Lawsuit via BARNA, soon to be issued starting April 9th, claims that $CALI has 35x times the current assets NOT kept with the company.
If the lawsuit wins there's a potential upside that $CALI goes to $102's / $103's per share.
If there's a settlement, then say 50% of this, then $CALI is in $50's
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