PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Unusually-High Trading Volume – What’s Next?

Shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw strong trading volume on Monday. 73,237 shares changed hands during mid-day trading, a decline of 43% from the previous session’s volume of 128,249 shares. The stock last traded at $49.6150 and had previously closed at $49.61.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The stock’s fifty day simple moving average is $49.94 and its two-hundred day simple moving average is $50.23.

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

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 8.2% during the third 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. XP Advisory US Inc. purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the second quarter worth $605,000. Bessemer Group Inc. acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter valued at $1,448,000. Bank of New York Mellon Corp acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $2,924,000. Finally, Worth Asset Management LLC bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter valued at approximately $242,000.

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).