PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Reaches New 12-Month Low – Time to Sell?

Shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) hit a new 52-week low on Thursday . The stock traded as low as $50.14 and last traded at $50.1450, with a volume of 55016 shares changing hands. The stock had previously closed at $50.26.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The stock has a 50 day simple moving average of $50.39 and a 200 day simple moving average of $50.52.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SMMU. Worth Asset Management LLC bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 1st quarter valued at $242,000. Essex Bank bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth $300,000. Strategic Wealth Partners Ltd. purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the third quarter valued at about $582,000. Janney Montgomery Scott LLC purchased a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the fourth quarter valued at about $700,000. Finally, Hollencrest Capital Management raised its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% during the fourth quarter. Hollencrest Capital Management now owns 21,145 shares of the company’s stock valued at $1,066,000 after acquiring an additional 19,715 shares during 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).