PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Trading Up 0% – Should You Buy?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) traded up 0% during trading on Monday . The company traded as high as $50.53 and last traded at $50.53. 60,835 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 114,278 shares. The stock had previously closed at $50.52.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

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

Institutional Trading of PIMCO Short Term Municipal Bond Exchange-Traded Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter worth $2,924,000. Worth Asset Management LLC bought a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter valued at $242,000. John A. Wolfe & Associates Inc. acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 4th quarter worth $24,554,000. Hollencrest Capital Management lifted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% during the 4th quarter. Hollencrest Capital Management now owns 21,145 shares of the company’s stock worth $1,066,000 after buying an additional 19,715 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at about $700,000.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Company Profile

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).