PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Short Interest Down 39.5% in June

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 27,599 shares, a decrease of 39.5% from the June 15th total of 45,633 shares. Based on an average daily volume of 94,792 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Stock Up 0.1%

NYSEARCA SMMU opened at $50.36 on Friday. The stock’s 50 day moving average is $50.39 and its two-hundred day moving average is $50.53. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 1-year low of $50.11 and a 1-year high of $50.90.

Hedge Funds Weigh In On PIMCO Short Term Municipal Bond Exchange-Traded Fund

Several hedge funds and other institutional investors have recently modified their holdings of SMMU. Worth Asset Management LLC bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter valued at $242,000. Essex Bank bought a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the fourth quarter valued at $300,000. Strategic Wealth Partners Ltd. bought a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter valued at $582,000. Janney Montgomery Scott LLC acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter valued at $700,000. Finally, Hollencrest Capital Management boosted its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% in the 4th quarter. Hollencrest Capital Management now owns 21,145 shares of the company’s stock valued at $1,066,000 after purchasing an additional 19,715 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. 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).