PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Reaches New 52-Week Low – What’s Next?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $50.12 and last traded at $50.1310, with a volume of 1475 shares traded. The stock had previously closed at $50.29.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Trading Down 0.4%

The firm has a fifty day simple moving average of $50.32 and a 200 day simple moving average of $50.45.

Institutional Investors 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 lifted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 9.5% during the 4th quarter. Captrust Financial Advisors now owns 1,047,846 shares of the company’s stock worth $52,843,000 after purchasing an additional 90,992 shares during the last quarter. Hollencrest Capital Management lifted its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% during 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. Janney Montgomery Scott LLC bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at approximately $700,000. Strategic Wealth Partners Ltd. bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the third quarter valued at approximately $582,000. Finally, XP Advisory US Inc. acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the second quarter worth $605,000.

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).