PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Trading 0.1% Higher – Here’s Why

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price shot up 0.1% during trading on Friday . The company traded as high as $50.75 and last traded at $50.75. 99,403 shares traded hands during trading, a decline of 7% from the average session volume of 106,748 shares. The stock had previously closed at $50.72.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The business has a fifty day simple moving average of $50.56 and a two-hundred day simple moving average of $50.50.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%.

Institutional Trading of PIMCO Short Term Municipal Bond Exchange-Traded Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. United Community Bank bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the third quarter worth approximately $94,000. Essex Bank purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth $300,000. Prime Capital Investment Advisors LLC bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 2nd quarter worth $310,000. Strategic Wealth Partners Ltd. bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 3rd quarter worth $582,000. Finally, Titleist Asset Management LLC lifted its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 32.9% during the second quarter. Titleist Asset Management LLC now owns 13,872 shares of the company’s stock valued at $696,000 after purchasing an additional 3,433 shares in 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).