PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Short Interest Update

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 24,295 shares, a drop of 67.6% from the August 15th total of 74,967 shares. Based on an average daily trading volume, of 90,892 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMMU. Worth Asset Management LLC acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter valued at $242,000. Strategic Wealth Partners Ltd. acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter worth $582,000. XP Advisory US Inc. acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the second quarter worth $605,000. Janney Montgomery Scott LLC purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter valued at $700,000. Finally, Hollencrest Capital Management lifted its holdings in 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 valued at $1,066,000 after purchasing an additional 19,715 shares in the last quarter.

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

NYSEARCA:SMMU traded up $0.01 during mid-day trading on Friday, reaching $49.88. The company’s stock had a trading volume of 187,143 shares, compared to its average volume of 114,243. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 1 year low of $49.86 and a 1 year high of $50.90. The stock has a fifty day moving average of $50.24 and a 200-day moving average of $50.40.

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).