PIMCO Municipal Income Fund (NYSE:PMF) Short Interest Up 110.4% in February

PIMCO Municipal Income Fund (NYSE:PMF) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 95,500 shares, an increase of 110.4% from the February 13th total of 45,400 shares. Based on an average daily volume of 89,200 shares, the days-to-cover ratio is presently 1.1 days.

PIMCO Municipal Income Fund Stock Down 0.8 %

Shares of NYSE:PMF traded down $0.07 during mid-day trading on Friday, reaching $8.92. 43,877 shares of the stock were exchanged, compared to its average volume of 76,407. The stock’s 50 day simple moving average is $9.05 and its 200-day simple moving average is $9.45. PIMCO Municipal Income Fund has a one year low of $8.58 and a one year high of $10.50.

PIMCO Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a $0.042 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.65%.

Insider Buying and Selling

In other news, major shareholder Of America Corp /De/ Bank purchased 24,110 shares of the company’s stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $9.02 per share, with a total value of $217,472.20. Following the purchase, the insider now directly owns 24,110 shares of the company’s stock, valued at $217,472.20. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders acquired 25,505 shares of company stock valued at $230,140.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PMF. Guggenheim Capital LLC increased its stake in PIMCO Municipal Income Fund by 77.1% in the 4th quarter. Guggenheim Capital LLC now owns 556,410 shares of the financial services provider’s stock valued at $4,997,000 after buying an additional 242,308 shares during the last quarter. Selway Asset Management grew its holdings in shares of PIMCO Municipal Income Fund by 3.1% in the 4th quarter. Selway Asset Management now owns 364,900 shares of the financial services provider’s stock valued at $3,277,000 after acquiring an additional 11,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of PIMCO Municipal Income Fund by 1,317.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 289,904 shares of the financial services provider’s stock valued at $2,603,000 after acquiring an additional 269,453 shares during the last quarter. Captrust Financial Advisors raised its holdings in PIMCO Municipal Income Fund by 13.5% during the fourth quarter. Captrust Financial Advisors now owns 264,584 shares of the financial services provider’s stock worth $2,376,000 after acquiring an additional 31,456 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in PIMCO Municipal Income Fund by 26.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 253,762 shares of the financial services provider’s stock valued at $2,279,000 after purchasing an additional 52,593 shares during the last quarter.

PIMCO Municipal Income Fund Company Profile

PIMCO Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.