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

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw unusually-strong trading volume on Wednesday . Approximately 1,532,169 shares changed hands during mid-day trading, an increase of 2,073% from the previous session’s volume of 70,518 shares.The stock last traded at $49.57 and had previously closed at $49.53.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Up 0.2 %

The company has a fifty day moving average of $49.92 and a 200-day moving average of $50.00.

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 SMMU. AdvisorNet Financial Inc grew its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 21.8% in the first quarter. AdvisorNet Financial Inc now owns 13,998 shares of the company’s stock valued at $700,000 after purchasing an additional 2,507 shares in the last quarter. Captrust Financial Advisors grew its holdings in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 11.3% in the 4th quarter. Captrust Financial Advisors now owns 432,472 shares of the company’s stock valued at $21,554,000 after buying an additional 43,791 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 171.2% in the 4th quarter. JPMorgan Chase & Co. now owns 143,596 shares of the company’s stock worth $7,157,000 after acquiring an additional 90,640 shares during the last quarter. Titleist Asset Management LLC raised its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 5.4% during the 4th quarter. Titleist Asset Management LLC now owns 10,095 shares of the company’s stock worth $503,000 after acquiring an additional 517 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 84.8% during the 4th quarter. Jones Financial Companies Lllp now owns 11,162 shares of the company’s stock valued at $556,000 after acquiring an additional 5,122 shares during the last quarter.

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.