PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Strong Trading Volume – Here’s What Happened

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares saw unusually-strong trading volume on Tuesday. Approximately 493,681 shares changed hands during trading, an increase of 297% from the previous session’s volume of 124,304 shares. The stock last traded at $49.4650 and had previously closed at $49.48.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Trading Down 0.0%

The business’s 50-day moving average is $50.02 and its 200-day moving average is $50.27.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. XP Advisory US Inc. acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the second quarter worth about $605,000. Bessemer Group Inc. purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth approximately $1,448,000. Bank of New York Mellon Corp acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter worth approximately $2,924,000. Worth Asset Management LLC acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter worth approximately $242,000. Finally, John A. Wolfe & Associates Inc. purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 4th quarter valued at approximately $24,554,000.

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).