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

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares saw strong trading volume on Thursday. 617,831 shares traded hands during trading, an increase of 337% from the average daily volume of 141,364 shares. The stock last traded at $50.2950 and had previously closed at $50.42.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The business has a 50-day moving average of $49.89 and a 200 day moving average of $50.32.

Institutional Investors Weigh In On PIMCO Short Term Municipal Bond Exchange-Traded Fund

Hedge funds have recently modified their holdings of the company. John A. Wolfe & Associates Inc. raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 8.0% in the third quarter. John A. Wolfe & Associates Inc. now owns 435,833 shares of the company’s stock valued at $21,535,000 after buying an additional 32,388 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 44.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 75,646 shares of the company’s stock worth $3,738,000 after acquiring an additional 23,181 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth approximately $2,924,000. Farther Finance Advisors LLC grew its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 8.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 45,463 shares of the company’s stock worth $2,246,000 after acquiring an additional 3,432 shares during the period. Finally, 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.

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).