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 large drop in short interest in the month of February. As of February 15th, there was short interest totalling 8,300 shares, a drop of 30.3% from the January 31st total of 11,900 shares. Based on an average daily trading volume, of 63,300 shares, the short-interest ratio is currently 0.1 days.

PIMCO New York Municipal Income Fund II Stock Up 0.5 %

Shares of PIMCO New York Municipal Income Fund II stock traded up $0.04 on Wednesday, hitting $7.36. The company had a trading volume of 10,787 shares, compared to its average volume of 53,668. The stock has a 50-day moving average of $7.24 and a 200-day moving average of $7.45. PIMCO New York Municipal Income Fund II has a twelve month low of $6.96 and a twelve month high of $7.96.

PIMCO New York Municipal Income Fund II Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the fourth quarter valued at about $39,000. Beckerman Institutional LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II during the 3rd quarter worth approximately $120,000. Wells Fargo & Company MN boosted its holdings in shares of 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 buying an additional 6,850 shares during the last quarter. Morse Asset Management Inc acquired a new position in PIMCO New York Municipal Income Fund II during the third quarter worth $182,000. Finally, Noble Wealth Management PBC bought a new stake in PIMCO New York Municipal Income Fund II during the fourth quarter worth $446,000.

PIMCO New York Municipal Income Fund II Company Profile

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.