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

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 68,037 shares, an increase of 1,054.7% from the February 26th total of 5,892 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 113,340 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of PIMCO Short Term Municipal Bond Exchange-Traded Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. United Community Bank acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the third quarter worth about $94,000. Essex Bank purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter valued at $300,000. Strategic Wealth Partners Ltd. acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter valued at $582,000. Titleist Asset Management LLC raised its position 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 buying an additional 3,433 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth about $700,000.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

Shares of NYSEARCA SMMU remained flat at $50.40 during mid-day trading on Thursday. The company had a trading volume of 71,538 shares, compared to its average volume of 110,292. The business has a fifty day moving average price of $50.69 and a 200-day moving average price of $50.58. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a twelve month low of $45.50 and a twelve month high of $52.02.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, March 2nd were given a $0.12 dividend. This is a positive change from PIMCO Short Term Municipal Bond Exchange-Traded Fund’s previous monthly dividend of $0.11. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%.

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).