Short Interest in PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Grows By 138.0%

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 70,753 shares, a growth of 138.0% from the December 31st total of 29,734 shares. Based on an average daily trading volume, of 386,118 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 386,118 shares, the days-to-cover ratio is currently 0.2 days.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Stock Performance

MUNI remained flat at $52.83 on Friday. The company had a trading volume of 232,040 shares, compared to its average volume of 361,317. PIMCO Intermediate Municipal Bond Exchange-Traded Fund has a 12-month low of $49.58 and a 12-month high of $52.85. The stock’s fifty day simple moving average is $52.57 and its two-hundred day simple moving average is $52.17.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Increases Dividend

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goodman Advisory Group LLC acquired a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the second quarter worth about $26,000. BNP Paribas Financial Markets grew 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 during the period. Premier Financial Group bought a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 3rd quarter valued at approximately $94,000. Cullen Frost Bankers Inc. raised its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 183.6% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,382 shares of the company’s stock worth $122,000 after buying an additional 1,542 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the 3rd quarter worth approximately $159,000.

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.