PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $50.32 and traded as high as $50.42. PIMCO Short Term Municipal Bond Exchange-Traded Fund shares last traded at $50.38, with a volume of 400,173 shares changing hands.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The stock has a 50-day moving average price of $49.87 and a 200-day moving average price of $50.32.

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

A number of hedge funds have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 44.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 75,646 shares of the company’s stock valued at $3,738,000 after purchasing an additional 23,181 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter valued at approximately $2,924,000. Farther Finance Advisors LLC boosted its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 8.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 45,463 shares of the company’s stock valued at $2,246,000 after buying an additional 3,432 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter valued at approximately $1,448,000. Finally, XP Advisory US Inc. acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the second quarter worth approximately $605,000.

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).