PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Reaches New 12-Month High – Should You Buy?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares reached a new 52-week high on Wednesday . The stock traded as high as $52.05 and last traded at $50.25, with a volume of 14787 shares. The stock had previously closed at $50.14.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The company’s 50-day moving average price is $50.14 and its two-hundred day moving average price is $50.07.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMMU. Captrust Financial Advisors lifted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 11.4% during the third quarter. Captrust Financial Advisors now owns 388,681 shares of the company’s stock valued at $19,628,000 after purchasing an additional 39,893 shares in the last quarter. Davis R M Inc. lifted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 2.7% during the third quarter. Davis R M Inc. now owns 67,923 shares of the company’s stock valued at $3,430,000 after purchasing an additional 1,815 shares in the last quarter. Bank of New York Mellon Corp raised its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 62,432 shares of the company’s stock worth $3,113,000 after acquiring an additional 205 shares during the period. Farther Finance Advisors LLC raised its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 120.9% in the second quarter. Farther Finance Advisors LLC now owns 24,791 shares of the company’s stock worth $1,232,000 after acquiring an additional 13,569 shares during the period. Finally, Comerica Bank raised its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 7.8% in the first quarter. Comerica Bank now owns 8,275 shares of the company’s stock worth $413,000 after acquiring an additional 597 shares during the period.

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.