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

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares shot up 0% during mid-day trading on Monday . The stock traded as high as $50.42 and last traded at $50.38. 106,381 shares changed hands during trading, a decline of 9% from the average session volume of 116,872 shares. The stock had previously closed at $50.37.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The company has a 50 day moving average of $50.42 and a 200-day moving average of $50.54.

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

Large investors have recently added to or reduced their stakes in the company. Flow Traders U.S. LLC bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter worth $2,770,000. Captrust Financial Advisors lifted its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 82.6% in the third quarter. Captrust Financial Advisors now owns 956,854 shares of the company’s stock valued at $48,388,000 after buying an additional 432,791 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at $700,000. Bank of New York Mellon Corp bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter valued at $2,924,000. Finally, Bessemer Group Inc. bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter valued at $1,448,000.

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).