PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Sees Strong Trading Volume – Still a Buy?

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) shares saw unusually-high trading volume on Tuesday . Approximately 230,847 shares were traded during trading, an increase of 33% from the previous session’s volume of 173,610 shares.The stock last traded at $51.74 and had previously closed at $51.77.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Trading Up 0.2 %

The business has a 50-day moving average price of $52.18 and a 200-day moving average price of $52.37.

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

Several hedge funds have recently modified their holdings of the stock. Cozad Asset Management Inc. grew its position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 52.0% during the 3rd quarter. Cozad Asset Management Inc. now owns 5,845 shares of the company’s stock worth $310,000 after purchasing an additional 2,000 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter worth $201,000. Princeton Global Asset Management LLC purchased a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter valued at $848,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter valued at $82,000. Finally, Morton Brown Family Wealth LLC increased its position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 304.8% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 116,847 shares of the company’s stock valued at $6,191,000 after acquiring an additional 87,979 shares during the period.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Company Profile

PIMCO Intermediate Municipal Bond Strategy Fund, formerly, PIMCO Intermediate Municipal Bond ETF (the Fund), seeks to achieve its investment objective by investing 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).