PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sets New 12-Month Low – Here’s Why

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $50.12 and last traded at $50.1310, with a volume of 1475 shares changing hands. The stock had previously closed at $50.29.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The business’s 50-day moving average price is $50.31 and its 200-day moving average price is $50.44.

Institutional Investors Weigh In On PIMCO Short Term Municipal Bond Exchange-Traded Fund

A number of institutional investors have recently modified their holdings of SMMU. AIFG Consultants Ltd. grew its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 3.4% during the 4th quarter. AIFG Consultants Ltd. now owns 49,332 shares of the company’s stock valued at $2,488,000 after acquiring an additional 1,620 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter worth $242,000. Strategic Wealth Partners Ltd. acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter valued at $582,000. XP Advisory US Inc. acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the second quarter valued at $605,000. Finally, Janney Montgomery Scott LLC acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter valued at $700,000.

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).