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

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) shares saw an uptick in trading volume on Thursday. 1,762,659 shares traded hands 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 Stock Up 0.7%

The stock has a 50 day simple moving average of $50.68 and a 200 day simple moving average of $51.70.

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

A number of large investors have recently modified their holdings of MUNI. Morton Brown Family Wealth LLC boosted its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 6.2% during the first 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 period. Foster & Motley Inc. raised its holdings 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 worth $7,395,000 after buying an additional 18,596 shares in the last quarter. Newman Dignan & Sheerar Inc. acquired a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter worth about $6,900,000. GAMMA Investing LLC grew its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 16.2% during the 2nd 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in 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 valued at $4,083,000 after buying an additional 15,169 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.