PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Sees Large Volume Increase – Should You Buy?

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) saw unusually-strong trading volume on Thursday. Approximately 1,762,659 shares were traded during mid-day trading, an increase of 243% from the previous session’s volume of 513,816 shares. The stock last traded at $50.7350 and had previously closed at $50.44.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Price Performance

The company’s 50 day moving average is $50.64 and its 200-day moving average is $51.69.

Institutional Investors Weigh In On PIMCO Intermediate Municipal Bond Exchange-Traded Fund

Several institutional investors and hedge funds have recently made changes to their positions in MUNI. Morton Brown Family Wealth LLC boosted its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 6.2% during the 1st quarter. Morton Brown Family Wealth LLC now owns 180,642 shares of the company’s stock worth $9,428,000 after acquiring an additional 10,466 shares during the last quarter. Foster & Motley Inc. grew its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 15.1% during the 1st quarter. Foster & Motley Inc. now owns 141,690 shares of the company’s stock valued at $7,395,000 after acquiring an additional 18,596 shares during the period. Newman Dignan & Sheerar Inc. bought a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter valued at approximately $6,900,000. GAMMA Investing LLC lifted its holdings in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 16.2% during the second quarter. GAMMA Investing LLC now owns 80,039 shares of the company’s stock valued at $4,210,000 after purchasing an additional 11,175 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 24.1% in the first quarter. Bank of New York Mellon Corp now owns 78,227 shares of the company’s stock worth $4,083,000 after purchasing an additional 15,169 shares during the period.

About PIMCO Intermediate Municipal Bond Exchange-Traded Fund

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.