PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Large Drop in Short Interest

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 36,805 shares, a drop of 20.4% from the January 29th total of 46,217 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 126,532 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 126,532 shares, the short-interest ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are sold short.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

Shares of NYSEARCA:SMMU opened at $50.89 on Monday. PIMCO Short Term Municipal Bond Exchange-Traded Fund has a 1-year low of $45.50 and a 1-year high of $52.02. The business has a 50-day moving average price of $50.68 and a two-hundred day moving average price of $50.56.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were paid a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, February 2nd.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 9.5% during the 4th quarter. Captrust Financial Advisors now owns 1,047,846 shares of the company’s stock valued at $52,843,000 after acquiring an additional 90,992 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 7.3% during the third quarter. JPMorgan Chase & Co. now owns 958,785 shares of the company’s stock worth $48,486,000 after purchasing an additional 65,491 shares during the period. Davis R M Inc. increased its holdings in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 6.1% in the third quarter. Davis R M Inc. now owns 72,517 shares of the company’s stock valued at $3,667,000 after purchasing an additional 4,147 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the third quarter valued at about $2,770,000. Finally, AIFG Consultants Ltd. lifted its stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 3.4% in the fourth quarter. AIFG Consultants Ltd. now owns 49,332 shares of the company’s stock valued at $2,488,000 after buying an additional 1,620 shares during the period.

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).