PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) Shares Down 0.2% – Should You Sell?

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) shares dropped 0.2% during mid-day trading on Monday . The company traded as low as $51.58 and last traded at $51.64. 382,806 shares changed hands during trading, an increase of 17% from the average daily volume of 326,347 shares. The stock had previously closed at $51.75.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Price Performance

The company has a 50-day simple moving average of $52.26 and a 200 day simple moving average of $52.46.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MUNI. Hilton Head Capital Partners LLC purchased a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 4th quarter worth about $35,000. BNP Paribas Financial Markets boosted its position in 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 buying an additional 853 shares during the period. Arax Advisory Partners purchased a new stake in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 4th quarter valued at about $69,000. Robinswood Financial LLC bought a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $80,000. Finally, Provenance Wealth Advisors LLC bought a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the 1st quarter worth about $156,000.

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.