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

PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $53.05 and last traded at $53.01, with a volume of 335099 shares. The stock had previously closed at $52.96.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Price Performance

The firm’s fifty day moving average price is $52.63 and its 200 day moving average price is $52.28.

PIMCO Intermediate Municipal Bond Exchange-Traded Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 3.2%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Davis R M Inc. lifted its stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 7.6% during the 4th quarter. Davis R M Inc. now owns 333,667 shares of the company’s stock worth $17,487,000 after purchasing an additional 23,469 shares during the last quarter. Wayfinding Financial LLC bought a new position in PIMCO Intermediate Municipal Bond Exchange-Traded Fund in the fourth quarter worth about $2,399,000. Hilton Head Capital Partners LLC purchased a new stake in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund during the fourth quarter valued at about $35,000. WCG Wealth Advisors LLC lifted its position in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 241.5% during the fourth quarter. WCG Wealth Advisors LLC now owns 864,545 shares of the company’s stock valued at $45,311,000 after buying an additional 611,375 shares during the last quarter. Finally, One Capital Management LLC boosted its holdings in shares of PIMCO Intermediate Municipal Bond Exchange-Traded Fund by 1.7% in the 4th quarter. One Capital Management LLC now owns 18,652 shares of the company’s stock valued at $978,000 after buying an additional 305 shares in the last quarter.

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.