PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Shares Down 0.1% – Here’s What Happened

Shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) dropped 0.1% during trading on Wednesday . The company traded as low as $50.00 and last traded at $50.03. Approximately 48,076 shares were traded during trading, a decline of 57% from the average daily volume of 110,643 shares. The stock had previously closed at $50.06.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Trading Down 0.1 %

The stock has a fifty day simple moving average of $49.95 and a 200-day simple moving average of $50.11.

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

A number of institutional investors have recently modified their holdings of SMMU. Private Trust Co. NA boosted its holdings in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 50.6% in the 4th quarter. Private Trust Co. NA now owns 798 shares of the company’s stock valued at $40,000 after purchasing an additional 268 shares in the last quarter. Titleist Asset Management LLC lifted its holdings in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 5.4% in the 4th quarter. Titleist Asset Management LLC now owns 10,095 shares of the company’s stock valued at $503,000 after purchasing an additional 517 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 3rd quarter worth about $31,000. AdvisorNet Financial Inc raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 6.1% in the fourth quarter. AdvisorNet Financial Inc now owns 11,491 shares of the company’s stock valued at $573,000 after buying an additional 660 shares during the last quarter. Finally, Sittner & Nelson LLC lifted its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 17.5% during the third quarter. Sittner & Nelson LLC now owns 4,700 shares of the company’s stock valued at $237,000 after buying an additional 700 shares during the period.

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.