Bill Gross, founder of PIMCO, is changing the NYSE ticker for his latest offering, the PIMCO Total Return ETF, from TRXT to BOND, effective April 4.

In a statement, Gross reasoned that the fund’s renaming will "enable investors to access the PIMCO Total Return ETF easily and conveniently, and we believe that re-naming the NYSE ticker to BOND is another step toward achieving that objective."

According to the firm, BOND is designed to be a diversified portfolio of high quality bonds that is actively managed with the aim of maximizing return and managing risk.

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