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

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 46,217 shares, a growth of 62.7% from the January 15th total of 28,400 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 132,836 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 132,836 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. United Community Bank acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter worth $94,000. Essex Bank bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter worth about $300,000. Strategic Wealth Partners Ltd. acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 3rd quarter worth about $582,000. Titleist Asset Management LLC grew its holdings in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 32.9% during the second quarter. Titleist Asset Management LLC now owns 13,872 shares of the company’s stock valued at $696,000 after purchasing an additional 3,433 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter valued at $700,000.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

SMMU traded up $0.03 on Friday, reaching $50.83. 251,292 shares of the company traded hands, compared to its average volume of 112,933. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 52-week low of $45.50 and a 52-week high of $52.02. The stock’s 50 day moving average price is $50.60 and its 200-day moving average price is $50.52.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, February 2nd.

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).