PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Hits New 1-Year High – Still a Buy?

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $52.87 and last traded at $52.8650, with a volume of 44096 shares. The stock had previously closed at $52.80.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Price Performance

The company’s 50-day simple moving average is $52.59 and its 200-day simple moving average is $52.22.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were issued a dividend of $0.14 per share. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, February 2nd.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter worth about $565,000. Newman Dignan & Sheerar Inc. boosted its holdings in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 60.8% in the third quarter. Newman Dignan & Sheerar Inc. now owns 108,175 shares of the company’s stock valued at $5,655,000 after purchasing an additional 40,890 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter valued at approximately $159,000. GAMMA Investing LLC increased its holdings in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 18.8% during the 3rd quarter. GAMMA Investing LLC now owns 40,596 shares of the company’s stock worth $2,122,000 after purchasing an additional 6,432 shares during the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 2nd quarter valued at approximately $26,000.

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). Municipal Bonds are issued by or on behalf of states and local governments and their agencies, authorities and other instrumentalities.