PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Large Volume Increase – Still a Buy?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) shares saw strong trading volume on Wednesday . 208,435 shares traded hands during mid-day trading, an increase of 99% from the previous session’s volume of 104,718 shares.The stock last traded at $50.03 and had previously closed at $50.05.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The company’s 50-day moving average price is $49.98 and its 200-day moving average price is $50.11.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. AIFG Consultants Ltd. acquired a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at $2,027,000. Equitable Trust Co. acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter worth about $271,000. AdvisorNet Financial Inc increased its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 6.1% during the fourth quarter. AdvisorNet Financial Inc now owns 11,491 shares of the company’s stock worth $573,000 after acquiring an additional 660 shares during the period. GAMMA Investing LLC increased its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 133.7% during the fourth quarter. GAMMA Investing LLC now owns 4,164 shares of the company’s stock worth $208,000 after acquiring an additional 2,382 shares during the period. Finally, Anchor Investment Management LLC increased its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 71.4% during the third quarter. Anchor Investment Management LLC now owns 6,000 shares of the company’s stock worth $303,000 after acquiring an additional 2,500 shares during the period.

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.