The PIMCO Intermediate Municipal Bond Exchange-Traded Fund (NYSEARCA:MUNI) witnessed a substantial rise in short interest as of December 15, 2023. The total short interest reached **83,702 shares**, reflecting a dramatic increase of **70.3%** from the **49,136 shares** reported on November 30, 2023. Currently, short sales account for **0.2%** of the fund’s total shares. With an average daily trading volume of **348,725 shares**, the days-to-cover ratio stands at **0.2 days**.
Institutional Trading Activity
Recent changes in institutional holdings for the PIMCO Intermediate Municipal Bond ETF indicate increased interest from several hedge funds and investment firms. Notably, **JPMorgan Chase & Co.** expanded its position in MUNI by **6.4%** during the third quarter, now owning **1,243,849 shares** valued at approximately **$65 million** after acquiring an additional **74,920 shares**.
In the second quarter, **Newman Dignan & Sheerar Inc.** established a new stake in the fund worth around **$3.5 million**. Similarly, **Arkadios Wealth Advisors** entered the scene in the third quarter with a new position valued at about **$2.2 million**.
Furthermore, **Integrated Wealth Concepts LLC** enhanced its holdings by **68.9%** during the first quarter, resulting in ownership of **104,513 shares** valued at **$5.4 million** after purchasing an additional **42,633 shares**. **Jones Financial Companies Lllp** also increased its stake by **24.3%** in the third quarter, bringing its total to **121,842 shares** worth **$6.4 million**.
Recent Price Performance
On December 19, 2023, MUNI’s trading price rose by **$0.01**, reaching **$52.57**. In total, **119,153 shares** changed hands, slightly above the average volume of **331,203 shares**. The fund’s 50-day moving average price is **$52.53**, while its 200-day moving average stands at **$51.93**. Over the past year, MUNI has fluctuated between a low of **$49.58** and a high of **$52.75**.
The PIMCO Intermediate Municipal Bond Fund aims to invest at least **80%** of its assets in a diversified portfolio of debt securities deemed exempt from federal income tax, specifically focusing on municipal bonds issued by states and local governments.
This surge in short interest and activity among institutional investors suggests a growing interest in the PIMCO Intermediate Municipal Bond Exchange-Traded Fund, reflecting both market dynamics and investor sentiment in the municipal bond sector.
