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

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) saw unusually-high trading volume on Friday. 1,847,197 shares changed hands during 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 Price Performance

The business has a fifty day simple moving average of $50.56 and a 200 day simple moving average of $51.90.

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

Several hedge funds have recently added to or reduced their stakes in MUNI. Nemes Rush Group LLC acquired a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the third quarter valued at approximately $57,000. Robinswood Financial LLC acquired a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the first quarter worth $80,000. First Community Trust NA acquired a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the third quarter worth $182,000. Root Financial Partners LLC acquired a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter valued at $210,000. Finally, FreeGulliver LLC purchased a new stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund during 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.