Short Interest in PIMCO New York Municipal Income Fund (NYSE:PNF) Decreases By 61.1%

PIMCO New York Municipal Income Fund (NYSE:PNF) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 14,500 shares, a decline of 61.1% from the October 31st total of 37,300 shares. Based on an average daily trading volume, of 19,800 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PNF. PFG Investments LLC acquired a new position in shares of PIMCO New York Municipal Income Fund during the third quarter valued at $102,000. Wolverine Asset Management LLC boosted its stake in PIMCO New York Municipal Income Fund by 9.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 27,940 shares of the company’s stock valued at $219,000 after purchasing an additional 2,525 shares during the period. Horizon Kinetics Asset Management LLC grew its position in PIMCO New York Municipal Income Fund by 71.6% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 58,956 shares of the company’s stock worth $489,000 after purchasing an additional 24,599 shares during the last quarter. Matisse Capital bought a new stake in shares of PIMCO New York Municipal Income Fund during the second quarter valued at approximately $651,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of PIMCO New York Municipal Income Fund by 69.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,401 shares of the company’s stock worth $734,000 after buying an additional 36,079 shares during the period.

PIMCO New York Municipal Income Fund Price Performance

Shares of NYSE:PNF traded up $0.07 during trading on Wednesday, reaching $7.99. 29,485 shares of the company’s stock traded hands, compared to its average volume of 23,025. The company has a 50 day moving average of $8.13 and a 200-day moving average of $7.97. PIMCO New York Municipal Income Fund has a 12 month low of $7.39 and a 12 month high of $8.40.

PIMCO New York Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.0335 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Tuesday, November 12th.

About PIMCO New York Municipal Income Fund

PIMCO New York 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 fixed income markets. It seeks to invest in stocks of companies operating across diversified sectors.