PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Strong Trading Volume – Should You Buy?

Shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw an uptick in trading volume on Wednesday . Approximately 281,883 shares were traded during mid-day trading, an increase of 148% from the previous session’s volume of 113,802 shares.The stock last traded at $50.33 and had previously closed at $50.50.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The business’s 50 day simple moving average is $50.42 and its two-hundred day simple moving average is $50.54.

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

Hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors boosted its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 9.5% in the 4th quarter. Captrust Financial Advisors now owns 1,047,846 shares of the company’s stock worth $52,843,000 after buying an additional 90,992 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 7.3% in the third quarter. JPMorgan Chase & Co. now owns 958,785 shares of the company’s stock worth $48,486,000 after acquiring an additional 65,491 shares during the period. John A. Wolfe & Associates Inc. bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth about $24,554,000. Bank of New York Mellon Corp purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter valued at approximately $2,924,000. Finally, Flow Traders U.S. LLC purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 3rd quarter valued at $2,770,000.

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).