PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Strong Trading Volume – Here’s Why

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw unusually-high trading volume on Tuesday. 493,681 shares were traded during mid-day trading, an increase of 297% from the previous session’s volume of 124,304 shares. The stock last traded at $49.4650 and had previously closed at $49.48.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The business’s 50-day simple moving average is $50.02 and its two-hundred day simple moving average is $50.27.

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

A number of hedge funds have recently bought and sold shares of the business. Worth Asset Management LLC purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter valued at approximately $242,000. XP Advisory US Inc. purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 2nd quarter valued at approximately $605,000. Bessemer Group Inc. acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter valued at $1,448,000. Bank of New York Mellon Corp purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth $2,924,000. Finally, John A. Wolfe & Associates Inc. purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth $24,554,000.

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).