SHM Stock Summary and Trading Ideas (SPDR Nuveen Bloomberg Short Term Municipal Bond ETF | ARCA:SHM)

The ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg Money Municipal Short Term Index. The Index is a rules-based, market-value weighted index comprised of publicly traded municipal bonds that cover the U.S. dollar denominated short term tax exempt bond market, including state and local general obligation bonds, revenue bonds, insured bonds, and pre-refunded bonds. All bonds in the Index must be rated Aa3/AA- or higher by at least two of the following statistical ratings agencies: Moody s Investor Service, Inc., Standard & Poor s and Fitch Inc. Each index security must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate and have a nominal maturity of one to five years. No issuer may constitute more than 10% of the Short Term Municipal Bond Index. Bonds subject to AMT, hospital bonds, housing bonds, tobacco bonds, and airline bonds, along with remarketed issues, taxable municipal bonds, floaters, and derivatives are all excluded from the Index.

SPDR Nuveen Bloomberg Short Term Municipal Bond ETF trades on the ARCA stock market under the symbol SHM.

As of May 10, 2024, SHM stock price declined to $47.23 with 203,421 million shares trading.

SHM has a beta of 0.08, meaning it tends to be less sensitive to market movements. SHM has a correlation of 0.15 to the broad based SPY ETF.

SHM has a market cap of $3.84 billion. This is considered a Mid Cap stock.

In the last 3 years, SHM stock traded as high as $49.70 and as low as $45.97.

SHM has underperformed the market in the last year with a price return of +1.3% while the SPY ETF gained +27.8%. SHM has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -0.3% and +0.5%, respectively, while the SPY returned +4.2% and +2.5%, respectively.

SHM support price is $47.23 and resistance is $47.33 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SHM stock will trade within this expected range on the day.