Short Interest in PIMCO Municipal Income Fund (NYSE:PMF) Declines By 21.0%

PIMCO Municipal Income Fund (NYSE:PMF) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 75,400 shares, a drop of 21.0% from the February 28th total of 95,500 shares. Based on an average daily trading volume, of 77,500 shares, the days-to-cover ratio is presently 1.0 days.

PIMCO Municipal Income Fund Stock Performance

Shares of NYSE PMF opened at $8.91 on Monday. The stock’s 50 day moving average price is $9.06 and its two-hundred day moving average price is $9.40. PIMCO Municipal Income Fund has a 52-week low of $8.58 and a 52-week high of $10.50.

PIMCO Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.042 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Thursday, March 13th.

Insider Transactions at PIMCO Municipal Income Fund

In related news, major shareholder Of America Corp /De/ Bank purchased 24,110 shares of PIMCO Municipal Income Fund stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $9.02 per share, with a total value of $217,472.20. Following the completion of the transaction, the insider now owns 24,110 shares of the company’s stock, valued at approximately $217,472.20. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 25,505 shares of company stock valued at $230,140.

Hedge Funds Weigh In On PIMCO Municipal Income Fund

Large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in PIMCO Municipal Income Fund by 8.4% during the third quarter. Captrust Financial Advisors now owns 233,128 shares of the financial services provider’s stock valued at $2,406,000 after purchasing an additional 18,055 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of PIMCO Municipal Income Fund by 86.4% in the 3rd quarter. HighTower Advisors LLC now owns 64,387 shares of the financial services provider’s stock valued at $664,000 after buying an additional 29,851 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of PIMCO Municipal Income Fund by 1,317.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 289,904 shares of the financial services provider’s stock valued at $2,603,000 after buying an additional 269,453 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in PIMCO Municipal Income Fund during the fourth quarter worth about $509,000. Finally, Raymond James Financial Inc. bought a new position in PIMCO Municipal Income Fund in the fourth quarter worth about $185,000.

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.