PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Hits New 12-Month Low – Should You Sell?

Shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) hit a new 52-week low during trading on Tuesday . The stock traded as low as $50.53 and last traded at $50.5640, with a volume of 67869 shares. The stock had previously closed at $50.59.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Price Performance

The company has a fifty day moving average price of $51.71 and a 200-day moving average price of $52.18.

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

Several large investors have recently bought and sold shares of MUNI. Sterling Investment Advisors Ltd. grew its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 43.8% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 65,700 shares of the company’s stock worth $3,456,000 after buying an additional 20,000 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 16.2% in 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. Robinswood Financial LLC bought a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 1st quarter valued at approximately $80,000. Cozad Asset Management Inc. bought a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the first quarter valued at $379,000. Finally, FreeGulliver LLC purchased a new stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $261,000.

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.