PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Short Interest Up 192.1% in August

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 74,967 shares, a growth of 192.1% from the July 30th total of 25,669 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 105,587 shares, the short-interest ratio is currently 0.7 days.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Worth Asset Management LLC purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter worth about $242,000. Essex Bank purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter valued at approximately $300,000. Strategic Wealth Partners Ltd. purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter valued at approximately $582,000. XP Advisory US Inc. acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the second quarter valued at approximately $605,000. Finally, Janney Montgomery Scott LLC acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at approximately $700,000.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

NYSEARCA:SMMU traded down $0.01 during mid-day trading on Thursday, hitting $50.30. The company’s stock had a trading volume of 65,624 shares, compared to its average volume of 114,199. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 1 year low of $50.13 and a 1 year high of $50.90. The business’s fifty day moving average is $50.33 and its two-hundred day moving average is $50.46.

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).