PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Hits New 1-Year Low – Should You Sell?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares hit a new 52-week low on Thursday . The stock traded as low as $50.14 and last traded at $50.1450, with a volume of 55016 shares changing hands. The stock had previously closed at $50.26.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Down 0.2%

The company’s fifty day simple moving average is $50.39 and its 200 day simple moving average is $50.52.

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

Large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter valued at about $1,448,000. Bank of New York Mellon Corp purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter worth about $2,924,000. Captrust Financial Advisors increased its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 9.5% in the fourth quarter. Captrust Financial Advisors now owns 1,047,846 shares of the company’s stock worth $52,843,000 after purchasing an additional 90,992 shares during the last quarter. Hollencrest Capital Management increased its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% in the fourth quarter. Hollencrest Capital Management now owns 21,145 shares of the company’s stock worth $1,066,000 after purchasing an additional 19,715 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at approximately $700,000.

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).