PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Sees Strong Trading Volume After Dividend Announcement

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) saw unusually-strong trading volume on Tuesday after the company announced a dividend. Approximately 725,498 shares traded hands during mid-day trading, an increase of 117% from the previous session’s volume of 333,767 shares.The stock last traded at $52.5650 and had previously closed at $52.56.

The newly announced dividend which will be paid on Monday, January 5th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a yield of 3.4%. This is a boost from PIMCO Intermediate Municipal Bond Exchange-Traded Fund’s previous monthly dividend of $0.13. The ex-dividend date is Wednesday, December 31st.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Stock Performance

The stock’s 50 day simple moving average is $52.53 and its 200-day simple moving average is $51.94.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MUNI. JPMorgan Chase & Co. increased its position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 6.4% during the third quarter. JPMorgan Chase & Co. now owns 1,243,849 shares of the company’s stock worth $65,028,000 after acquiring an additional 74,920 shares during the period. Newman Dignan & Sheerar Inc. acquired a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 2nd quarter worth $3,456,000. Arkadios Wealth Advisors acquired a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter worth $2,241,000. Integrated Wealth Concepts LLC increased its holdings in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 68.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 104,513 shares of the company’s stock worth $5,388,000 after purchasing an additional 42,633 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 24.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 121,842 shares of the company’s stock worth $6,366,000 after purchasing an additional 23,814 shares during the period.

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.