Short Interest in PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Decreases By 67.6%

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 24,295 shares, a drop of 67.6% from the August 15th total of 74,967 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 90,892 shares, the short-interest ratio is currently 0.3 days.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

PIMCO Short Term Municipal Bond Exchange-Traded Fund stock traded up $0.01 during midday trading on Friday, hitting $49.88. 187,143 shares of the stock were exchanged, compared to its average volume of 114,243. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 1 year low of $49.86 and a 1 year high of $50.90. The company has a 50 day moving average price of $50.24 and a two-hundred day moving average price of $50.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Worth Asset Management LLC purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter worth approximately $242,000. Strategic Wealth Partners Ltd. purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 3rd quarter valued at approximately $582,000. XP Advisory US Inc. acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the second quarter worth approximately $605,000. Janney Montgomery Scott LLC acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter worth approximately $700,000. Finally, Hollencrest Capital Management increased its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% in the fourth quarter. Hollencrest Capital Management now owns 21,145 shares of the company’s stock worth $1,066,000 after buying an additional 19,715 shares during 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).