PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Trading 0% Higher – What’s Next?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price traded up 0% during mid-day trading on Monday . The company traded as high as $50.53 and last traded at $50.53. 60,835 shares changed hands during trading, a decline of 47% from the average daily volume of 114,278 shares. The stock had previously closed at $50.52.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Up 0.0%

The stock’s fifty day simple moving average is $50.42 and its 200-day simple moving average is $50.54.

Hedge Funds Weigh In On PIMCO Short Term Municipal Bond Exchange-Traded Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter worth about $2,924,000. Worth Asset Management LLC purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter valued at approximately $242,000. John A. Wolfe & Associates Inc. purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at approximately $24,554,000. Janney Montgomery Scott LLC acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth approximately $700,000. Finally, AIFG Consultants Ltd. increased its holdings 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 buying an additional 1,620 shares during the period.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Company Profile

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).