PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sets New 12-Month Low – Here’s What Happened

Shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) hit a new 52-week low on Tuesday . The company traded as low as $49.86 and last traded at $49.8790, with a volume of 13417 shares changing hands. The stock had previously closed at $49.92.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Down 0.0%

The company has a 50 day moving average price of $50.22 and a 200-day moving average price of $50.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Worth Asset Management LLC acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter worth about $242,000. XP Advisory US Inc. bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 2nd quarter valued at approximately $605,000. Bessemer Group Inc. bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter valued at approximately $1,448,000. Bank of New York Mellon Corp acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter worth approximately $2,924,000. Finally, John A. Wolfe & Associates Inc. acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 4th quarter worth approximately $24,554,000.

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).