Short Interest in PIMCO Municipal Income Fund (NYSE:PMF) Increases By 61.8%

PIMCO Municipal Income Fund (NYSE:PMF) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 203,900 shares, a growth of 61.8% from the October 31st total of 126,000 shares. Based on an average daily trading volume, of 76,200 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On PIMCO Municipal Income Fund

Several institutional investors have recently bought and sold shares of PMF. Kimelman & Baird LLC bought a new stake in shares of PIMCO Municipal Income Fund during the 2nd quarter worth about $71,000. Fortitude Family Office LLC bought a new stake in PIMCO Municipal Income Fund during the third quarter worth approximately $93,000. XTX Topco Ltd acquired a new stake in PIMCO Municipal Income Fund in the second quarter worth approximately $96,000. Hennion & Walsh Asset Management Inc. bought a new position in PIMCO Municipal Income Fund during the 3rd quarter valued at $211,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in PIMCO Municipal Income Fund by 12.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,806 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 2,346 shares in the last quarter.

PIMCO Municipal Income Fund Stock Performance

PMF opened at $9.56 on Friday. PIMCO Municipal Income Fund has a 12 month low of $8.83 and a 12 month high of $10.50. The stock’s 50 day moving average price is $9.88 and its 200 day moving average price is $9.52.

PIMCO Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.042 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date is Tuesday, November 12th.

About PIMCO Municipal Income Fund

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.