PIMCO New York Municipal Income Fund II (NYSE:PNI) Sees Large Drop in Short Interest

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 8,300 shares, a decline of 30.3% from the January 31st total of 11,900 shares. Based on an average daily trading volume, of 63,300 shares, the days-to-cover ratio is presently 0.1 days.

PIMCO New York Municipal Income Fund II Stock Performance

Shares of PNI traded up $0.04 during mid-day trading on Wednesday, reaching $7.36. The company’s stock had a trading volume of 10,787 shares, compared to its average volume of 53,668. PIMCO New York Municipal Income Fund II has a 1-year low of $6.96 and a 1-year high of $7.96. The business has a 50-day simple moving average of $7.24 and a two-hundred day simple moving average of $7.45.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be issued a $0.0295 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.35 annualized dividend and a dividend yield of 4.81%.

Institutional Trading of PIMCO New York Municipal Income Fund II

Hedge funds have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC bought a new position in PIMCO New York Municipal Income Fund II in the 4th quarter valued at about $39,000. Beckerman Institutional LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II in the third quarter valued at approximately $120,000. Morse Asset Management Inc acquired a new stake in PIMCO New York Municipal Income Fund II during the 3rd quarter worth approximately $182,000. Wells Fargo & Company MN boosted its stake in PIMCO New York Municipal Income Fund II by 39.4% in the 4th quarter. Wells Fargo & Company MN now owns 24,243 shares of the company’s stock valued at $174,000 after purchasing an additional 6,850 shares during the period. Finally, Noble Wealth Management PBC acquired a new stake in shares of PIMCO New York Municipal Income Fund II during the fourth quarter worth $446,000.

About PIMCO New York Municipal Income Fund II

PIMCO New York Municipal Income Fund II is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in municipal bonds that pay interest that is exempt from federal, New York State, and New York City income tax.