PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Hits New 12-Month High – Here’s Why

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

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Performance

The business has a 50 day moving average price of $50.13 and a two-hundred day moving average price of $50.07.

Institutional Trading of PIMCO Short Term Municipal Bond Exchange-Traded Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,432 shares of the company’s stock worth $3,113,000 after purchasing an additional 205 shares during the period. Comerica Bank grew its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 7.8% in the 1st quarter. Comerica Bank now owns 8,275 shares of the company’s stock worth $413,000 after buying an additional 597 shares in the last quarter. Creative Financial Designs Inc. ADV bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 3rd quarter worth about $31,000. GAMMA Investing LLC purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 2nd quarter valued at about $32,000. Finally, Sittner & Nelson LLC raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 17.5% during the 3rd quarter. Sittner & Nelson LLC now owns 4,700 shares of the company’s stock valued at $237,000 after buying an additional 700 shares in the last quarter.

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.