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 recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 74,967 shares, a growth of 192.1% from the July 30th total of 25,669 shares. Based on an average daily trading volume, of 105,587 shares, the short-interest ratio is currently 0.7 days. Currently, 0.3% of the shares of the stock are sold short.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Worth Asset Management LLC acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter valued at about $242,000. Essex Bank acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 4th 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. XP Advisory US Inc. acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 2nd quarter worth about $605,000. Finally, Janney Montgomery Scott LLC purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter valued at about $700,000.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

PIMCO Short Term Municipal Bond Exchange-Traded Fund stock traded down $0.01 during trading on Thursday, reaching $50.30. The company had a trading volume of 65,624 shares, compared to its average volume of 114,199. The firm’s 50-day simple moving average is $50.33 and its 200 day simple moving average is $50.46. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 1-year low of $50.13 and a 1-year high of $50.90.

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).