PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Sees Large Drop in Short Interest

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 31,534 shares, a drop of 72.6% from the April 30th total of 115,164 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 310,919 shares, the days-to-cover ratio is currently 0.1 days.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Stock Performance

MUNI traded up $0.05 during trading on Friday, reaching $52.47. 422,375 shares of the company’s stock were exchanged, compared to its average volume of 335,144. PIMCO Intermediate Municipal Bond Exchange-Traded Fund has a 1 year low of $50.74 and a 1 year high of $53.37. The company’s fifty day simple moving average is $52.29 and its 200-day simple moving average is $52.55.

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

Several institutional investors have recently made changes to their positions in MUNI. Cullen Frost Bankers Inc. increased its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 25.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 2,983 shares of the company’s stock valued at $156,000 after purchasing an additional 601 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 24.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 121,842 shares of the company’s stock valued at $6,366,000 after purchasing an additional 23,814 shares in the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter valued at approximately $288,000. Transcendent Capital Group LLC increased its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 1.3% during the 3rd quarter. Transcendent Capital Group LLC now owns 17,012 shares of the company’s stock valued at $889,000 after purchasing an additional 217 shares in the last quarter. Finally, Elyxium Wealth LLC increased its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 20.0% during the 3rd quarter. Elyxium Wealth LLC now owns 60,864 shares of the company’s stock valued at $3,182,000 after purchasing an additional 10,128 shares in the last quarter.

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.