PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Reaches New 1-Year High – Still a Buy?

by · The Markets Daily

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $52.80 and last traded at $52.7850, with a volume of 104113 shares traded. The stock had previously closed at $52.78.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Price Performance

The company’s 50 day moving average price is $52.57 and its two-hundred day moving average price is $52.16.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, January 5th. Investors of record on Wednesday, December 31st were issued a dividend of $0.15 per share. This represents a c) annualized dividend and a yield of 3.4%. This is a positive change from PIMCO Intermediate Municipal Bond Exchange-Traded Fund’s previous monthly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, December 31st.

Institutional Trading of PIMCO Intermediate Municipal Bond Exchange-Traded Fund

A number of hedge funds have recently added to or reduced their stakes in MUNI. Goodman Advisory Group LLC purchased a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the second quarter valued at $26,000. BNP Paribas Financial Markets increased its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 28,433.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 856 shares of the company’s stock valued at $45,000 after purchasing an additional 853 shares in the last quarter. Premier Financial Group purchased a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the third quarter worth approximately $94,000. Cullen Frost Bankers Inc. grew its holdings in PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 183.6% in the second quarter. Cullen Frost Bankers Inc. now owns 2,382 shares of the company’s stock valued at $122,000 after purchasing an additional 1,542 shares during the period. Finally, Heartwood Wealth Advisors LLC purchased a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the third quarter valued at approximately $159,000.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Company Profile

(Get Free Report)

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.

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