PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Stock Price Down 0.3% – Here’s Why

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares were down 0.3% during mid-day trading on Monday . The stock traded as low as $50.16 and last traded at $50.16. Approximately 44,524 shares traded hands during trading, a decline of 4% from the average daily volume of 46,375 shares. The stock had previously closed at $50.30.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The company’s 50-day moving average price is $50.30 and its 200-day moving average price is $50.01.

Hedge Funds Weigh In On PIMCO Short Term Municipal Bond Exchange-Traded Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the second quarter worth about $32,000. Bessemer Group Inc. acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter valued at about $123,000. Anchor Investment Management LLC lifted its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 250.0% in the 2nd quarter. Anchor Investment Management LLC now owns 3,500 shares of the company’s stock worth $175,000 after purchasing an additional 2,500 shares in the last quarter. Comerica Bank boosted its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 7.8% during the 1st quarter. Comerica Bank now owns 8,275 shares of the company’s stock worth $413,000 after purchasing an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 2.8% during the 1st quarter. AdvisorNet Financial Inc now owns 10,505 shares of the company’s stock worth $524,000 after purchasing an additional 285 shares during the last quarter.

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.