PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Stock Falls 0.2% – Here’s Why

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price dropped 0.2% during trading on Monday. The company traded as low as $50.18 and last traded at $50.23. Approximately 292,814 shares changed hands during mid-day trading, an increase of 113% from the average session volume of 137,305 shares. The stock had previously closed at $50.33.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The company has a 50 day moving average price of $49.88 and a two-hundred day moving average price of $50.33.

Institutional Investors Weigh In On PIMCO Short Term Municipal Bond Exchange-Traded Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Holos Integrated Wealth LLC purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter worth about $29,000. Prime Capital Investment Advisors LLC raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 44.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 75,646 shares of the company’s stock worth $3,738,000 after purchasing an additional 23,181 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 8.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 45,463 shares of the company’s stock worth $2,246,000 after purchasing an additional 3,432 shares during the last quarter. XP Advisory US Inc. acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 2nd quarter worth about $605,000. Finally, Bessemer Group Inc. purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter valued at about $1,448,000.

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).