PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Reaches New 52-Week Low – Should You Sell?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) reached a new 52-week low during trading on Monday . The stock traded as low as $50.14 and last traded at $50.1350, with a volume of 46223 shares changing hands. The stock had previously closed at $50.27.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The company’s fifty day moving average is $50.37 and its 200 day moving average is $50.50.

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

Several hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors increased its holdings 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 period. John A. Wolfe & Associates Inc. bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter valued at approximately $24,554,000. Bank of New York Mellon Corp bought a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth $2,924,000. AIFG Consultants Ltd. lifted its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 3.4% during the 4th quarter. AIFG Consultants Ltd. now owns 49,332 shares of the company’s stock worth $2,488,000 after acquiring an additional 1,620 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 89.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 34,065 shares of the company’s stock valued at $1,718,000 after acquiring an additional 16,085 shares during 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).