PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Sees Large Volume Increase – Here’s Why

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) saw unusually-high trading volume on Friday. 1,847,197 shares changed hands during mid-day trading, an increase of 229% from the average daily volume of 561,281 shares. The stock last traded at $51.1050 and had previously closed at $51.31.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Stock Performance

The stock has a 50-day simple moving average of $50.56 and a 200 day simple moving average of $51.89.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hanson & Doremus Investment Management increased its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 0.5% in the third quarter. Hanson & Doremus Investment Management now owns 63,867 shares of the company’s stock valued at $3,174,000 after buying an additional 326 shares during the period. Centennial Bank AR raised its position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 2.1% during the third quarter. Centennial Bank AR now owns 37,002 shares of the company’s stock worth $1,839,000 after acquiring an additional 773 shares during the last quarter. Nemes Rush Group LLC bought a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter worth about $57,000. Robinswood Financial LLC acquired a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the first quarter worth approximately $80,000. Finally, First Community Trust NA acquired a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the third quarter worth approximately $182,000.

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.