PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Shares Down 0.1% – Here’s What Happened

Shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) dropped 0.1% on Monday . The company traded as low as $52.24 and last traded at $52.26. 251,561 shares were traded during trading, a decline of 23% from the average daily volume of 327,554 shares. The stock had previously closed at $52.30.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Stock Performance

The stock has a 50 day simple moving average of $52.35 and a 200-day simple moving average of $52.54.

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

Several large investors have recently modified their holdings of MUNI. JPMorgan Chase & Co. grew its position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,849 shares of the company’s stock valued at $65,028,000 after purchasing an additional 74,920 shares during the last quarter. WCG Wealth Advisors LLC lifted its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 241.5% in the fourth quarter. WCG Wealth Advisors LLC now owns 864,545 shares of the company’s stock worth $45,311,000 after buying an additional 611,375 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 5.2% during the third quarter. NewEdge Advisors LLC now owns 440,622 shares of the company’s stock valued at $23,036,000 after buying an additional 21,607 shares during the last quarter. Quotient Wealth Partners LLC grew its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 6.6% during the first quarter. Quotient Wealth Partners LLC now owns 345,489 shares of the company’s stock valued at $18,031,000 after buying an additional 21,361 shares during the last quarter. Finally, Davis R M Inc. increased its position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 7.6% during the fourth quarter. Davis R M Inc. now owns 333,667 shares of the company’s stock valued at $17,487,000 after acquiring an additional 23,469 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.