PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Reaches New 1-Year High – Should You Buy?

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

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Stock Performance

The company has a 50 day simple moving average of $52.58 and a two-hundred day simple moving average of $52.20.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.14 per share. This represents a c) annualized dividend 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

Several hedge funds have recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its holdings in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 0.6% during the second quarter. Private Trust Co. NA now owns 34,172 shares of the company’s stock worth $1,755,000 after buying an additional 205 shares during the period. Transcendent Capital Group LLC grew its stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 1.3% in the third 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 during the last quarter. Steph & Co. boosted its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 0.5% in the 4th quarter. Steph & Co. now owns 85,644 shares of the company’s stock valued at $4,489,000 after buying an additional 417 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 2nd quarter worth approximately $26,000. Finally, DecisionMap Wealth Management LLC raised its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 13.4% during the 4th quarter. DecisionMap Wealth Management LLC now owns 4,450 shares of the company’s stock worth $233,000 after acquiring an additional 527 shares in the last quarter.

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.