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

Shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) saw an uptick in trading volume on Thursday. Approximately 1,762,659 shares changed hands during trading, an increase of 243% from the previous session’s volume of 513,816 shares. The stock last traded at $50.7350 and had previously closed at $50.44.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Stock Performance

The company’s 50 day moving average is $50.68 and its 200-day moving average is $51.70.

Institutional Trading of PIMCO Intermediate Municipal Bond Exchange-Traded Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Robinswood Financial LLC bought a new stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $80,000. Provenance Wealth Advisors LLC bought a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the first quarter worth about $156,000. First Community Trust NA bought a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter valued at about $182,000. Root Financial Partners LLC bought a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 3rd quarter worth approximately $210,000. Finally, FreeGulliver LLC bought a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the first quarter worth $261,000.

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.