PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Large Volume Increase – Still a Buy?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares saw unusually-strong trading volume on Wednesday . Approximately 281,883 shares were traded during trading, an increase of 148% from the previous session’s volume of 113,802 shares.The stock last traded at $50.33 and had previously closed at $50.50.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The business’s 50-day simple moving average is $50.42 and its two-hundred day simple moving average is $50.54.

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

Several hedge funds have recently modified their holdings of the company. Worth Asset Management LLC acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $242,000. Essex Bank bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter worth about $300,000. Strategic Wealth Partners Ltd. bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter worth about $582,000. Janney Montgomery Scott LLC acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at approximately $700,000. Finally, Hollencrest Capital Management raised its holdings in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% in the 4th quarter. Hollencrest Capital Management now owns 21,145 shares of the company’s stock valued at $1,066,000 after buying an additional 19,715 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).