PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Sees Large Volume Increase – Still a Buy?

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) saw unusually-high trading volume on Tuesday . Approximately 309,746 shares traded hands during trading, an increase of 191% from the previous session’s volume of 106,495 shares.The stock last traded at $49.94 and had previously closed at $49.88.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The stock’s 50-day moving average price is $49.98 and its 200 day moving average price is $50.11.

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

A number of hedge funds have recently bought and sold shares of SMMU. Creative Financial Designs Inc. ADV acquired a new stake in PIMCO Short Term Municipal Bond Exchange-Traded Fund during the third quarter worth about $31,000. GAMMA Investing LLC increased its holdings in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 178.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,782 shares of the company’s stock worth $90,000 after buying an additional 1,141 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund by 250.0% during the 2nd quarter. Anchor Investment Management LLC now owns 3,500 shares of the company’s stock valued at $175,000 after buying an additional 2,500 shares during the period. Sittner & Nelson LLC lifted its holdings in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 17.5% in the third quarter. Sittner & Nelson LLC now owns 4,700 shares of the company’s stock valued at $237,000 after acquiring an additional 700 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in PIMCO Short Term Municipal Bond Exchange-Traded Fund by 6.1% in the fourth quarter. AdvisorNet Financial Inc now owns 11,491 shares of the company’s stock worth $573,000 after acquiring an additional 660 shares during the period.

About PIMCO Short Term Municipal Bond Exchange-Traded Fund

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.