PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sets New 1-Year Low – Here’s Why

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $50.14 and last traded at $50.1450, with a volume of 55016 shares changing hands. The stock had previously closed at $50.26.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The company has a 50 day moving average price of $50.38 and a two-hundred day moving average price of $50.52.

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 stock. Bessemer Group Inc. acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter valued at approximately $1,448,000. Prime Capital Investment Advisors LLC lifted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 89.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 34,065 shares of the company’s stock valued at $1,718,000 after acquiring an additional 16,085 shares in the last quarter. AIFG Consultants Ltd. boosted its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 3.4% in the fourth quarter. AIFG Consultants Ltd. now owns 49,332 shares of the company’s stock worth $2,488,000 after acquiring an additional 1,620 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter worth approximately $2,924,000. Finally, Captrust Financial Advisors boosted its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 9.5% in the fourth quarter. Captrust Financial Advisors now owns 1,047,846 shares of the company’s stock worth $52,843,000 after acquiring an additional 90,992 shares during the last quarter.

About PIMCO Short Term Municipal Bond Exchange-Traded Fund

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).