PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Large Drop in Short Interest

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) was the target of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 5,892 shares, a decrease of 84.0% from the February 12th total of 36,805 shares. Based on an average daily volume of 93,944 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 93,944 shares, the short-interest ratio is currently 0.1 days.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Trading Down 0.1%

NYSEARCA:SMMU traded down $0.06 during trading hours on Thursday, reaching $50.56. 97,063 shares of the company’s stock were exchanged, compared to its average volume of 107,366. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 12 month low of $45.50 and a 12 month high of $52.02. The business’s 50-day simple moving average is $50.70 and its two-hundred day simple moving average is $50.58.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 2.8%. This is a boost from PIMCO Short Term Municipal Bond Exchange-Traded Fund’s previous monthly dividend of $0.11.

Institutional Investors Weigh In On PIMCO Short Term Municipal Bond Exchange-Traded Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors lifted its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 9.5% during the fourth quarter. Captrust Financial Advisors now owns 1,047,846 shares of the company’s stock valued at $52,843,000 after purchasing an additional 90,992 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% in the 4th quarter. Hollencrest Capital Management now owns 21,145 shares of the company’s stock valued at $1,066,000 after purchasing an additional 19,715 shares during the period. Janney Montgomery Scott LLC purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth about $700,000. AIFG Consultants Ltd. increased its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 3.4% in the 4th quarter. AIFG Consultants Ltd. now owns 49,332 shares of the company’s stock worth $2,488,000 after purchasing an additional 1,620 shares in the last quarter. Finally, Essex Bank acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 4th quarter worth about $300,000.

About PIMCO Short Term Municipal Bond Exchange-Traded Fund

PIMCO Short Term Municipal Bond ETF, formerly PIMCO Short Term Municipal Bond Strategy Fund, is an exchange-traded fund. It is designed to be appropriate for investors seeking tax-exempt income. The Fund consists of a portfolio of primarily short duration, bonds which carry interest income that is exempt from federal tax and in some cases state tax. The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax (Municipal Bonds).