PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Stock Falls 0.2% – Here’s What Happened

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price was down 0.2% during trading on Monday. The company traded as low as $50.18 and last traded at $50.23. Approximately 292,814 shares traded hands during trading, an increase of 113% from the average daily volume of 137,305 shares. The stock had previously closed at $50.33.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The firm has a 50-day moving average price of $49.88 and a two-hundred day moving average price of $50.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 3rd quarter valued at $29,000. 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. purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter worth $1,448,000. Farther Finance Advisors LLC grew its holdings in shares of 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 worth $2,246,000 after buying an additional 3,432 shares in the last quarter. Finally, 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 valued at about $2,924,000.

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).