PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Large Volume Increase – Here’s What Happened

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw strong trading volume on Thursday. Approximately 617,831 shares traded hands during mid-day trading, an increase of 337% from the average daily volume of 141,364 shares. The stock last traded at $50.2950 and had previously closed at $50.42.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The stock has a 50-day moving average price of $49.89 and a 200 day moving average price of $50.32.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbour Investments Inc. purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the third quarter valued at approximately $228,000. John A. Wolfe & Associates Inc. raised its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 8.0% during the third quarter. John A. Wolfe & Associates Inc. now owns 435,833 shares of the company’s stock worth $21,535,000 after purchasing an additional 32,388 shares during the period. Holos Integrated Wealth LLC acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 3rd quarter valued at $29,000. Prime Capital Investment Advisors LLC boosted its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 44.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 75,646 shares of the company’s stock valued at $3,738,000 after purchasing an additional 23,181 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 8.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 45,463 shares of the company’s stock valued at $2,246,000 after buying an additional 3,432 shares during the period.

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).