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

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) shares saw strong trading volume on Monday . 437,463 shares changed hands during trading, an increase of 142% from the previous session’s volume of 180,491 shares.The stock last traded at $51.88 and had previously closed at $51.72.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Price Performance

The stock has a 50 day simple moving average of $52.15 and a two-hundred day simple moving average of $52.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Cozad Asset Management Inc. raised its stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 52.0% in the 3rd quarter. Cozad Asset Management Inc. now owns 5,845 shares of the company’s stock valued at $310,000 after acquiring an additional 2,000 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the third quarter valued at about $201,000. Princeton Global Asset Management LLC acquired a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter worth about $848,000. Farmers & Merchants Investments Inc. bought a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter worth about $82,000. Finally, Morton Brown Family Wealth LLC grew its stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 304.8% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 116,847 shares of the company’s stock valued at $6,191,000 after buying an additional 87,979 shares during 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).