PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sets New 52-Week Low – Should You Sell?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $50.07 and last traded at $50.0750, with a volume of 3215 shares. The stock had previously closed at $50.11.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Trading Down 0.2%

The stock’s fifty day moving average is $50.27 and its 200 day moving average is $50.41.

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

Hedge funds have recently modified their holdings of the company. Worth Asset Management LLC purchased a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter worth about $242,000. Strategic Wealth Partners Ltd. purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 3rd quarter valued at about $582,000. XP Advisory US Inc. purchased a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 2nd quarter valued at about $605,000. Janney Montgomery Scott LLC bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the 4th quarter valued at approximately $700,000. Finally, Hollencrest Capital Management raised its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 1,378.7% during 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 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).