PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Trading 0.1% Higher – Should You Buy?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price traded up 0.1% during mid-day trading on Friday . The stock traded as high as $50.75 and last traded at $50.75. 99,403 shares were traded during mid-day trading, a decline of 7% from the average session volume of 106,748 shares. The stock had previously closed at $50.72.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The firm’s 50 day moving average is $50.56 and its 200 day moving average is $50.50.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, February 2nd were given a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMMU. Prime Capital Investment Advisors LLC bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the second quarter worth $310,000. NewSquare Capital LLC raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 2.3% in the 2nd quarter. NewSquare Capital LLC now owns 26,172 shares of the company’s stock worth $1,313,000 after purchasing an additional 584 shares during the last quarter. Davis R M Inc. raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 3.9% in the 2nd quarter. Davis R M Inc. now owns 68,370 shares of the company’s stock worth $3,430,000 after purchasing an additional 2,541 shares during the last quarter. Sittner & Nelson LLC boosted its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 426.1% in the 2nd quarter. Sittner & Nelson LLC now owns 36,038 shares of the company’s stock worth $1,808,000 after purchasing an additional 29,188 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 123.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 893,294 shares of the company’s stock valued at $44,817,000 after purchasing an additional 493,764 shares during the last quarter.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Company Profile

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).