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

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) was up 0% during trading on Monday . The stock traded as high as $50.40 and last traded at $50.31. Approximately 141,236 shares changed hands during trading, an increase of 23% from the average daily volume of 114,404 shares. The stock had previously closed at $50.30.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The firm’s 50-day simple moving average is $50.48 and its 200 day simple moving average is $50.55.

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

Several institutional investors have recently made changes to their positions in the stock. Davis R M Inc. boosted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 6.1% in the 3rd quarter. Davis R M Inc. now owns 72,517 shares of the company’s stock worth $3,667,000 after buying an additional 4,147 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $1,448,000. Bank of New York Mellon Corp purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $2,924,000. Worth Asset Management LLC purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $242,000. Finally, Captrust Financial Advisors boosted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 9.5% in the 4th quarter. Captrust Financial Advisors now owns 1,047,846 shares of the company’s stock worth $52,843,000 after buying an additional 90,992 shares in the last quarter.

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).