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

PIMCO Municipal Income Fund (NYSE:PMF) saw a significant 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 currently 1.1 days.

Insiders Place Their Bets

In related news, major shareholder Of America Corp /De/ Bank bought 24,110 shares of PIMCO Municipal Income Fund stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of $9.02 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 25,505 shares of company stock valued at $230,140.

Institutional Trading of PIMCO Municipal Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elequin Capital LP acquired a new stake in shares of PIMCO Municipal Income Fund during the 4th quarter worth approximately $31,000. Citadel Advisors LLC acquired a new stake in PIMCO Municipal Income Fund during the 4th quarter worth $99,000. Captrust Financial Advisors raised its position in shares of PIMCO Municipal Income Fund by 13.5% during the 4th quarter. Captrust Financial Advisors now owns 264,584 shares of the financial services provider’s stock valued at $2,376,000 after acquiring an additional 31,456 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of PIMCO Municipal Income Fund by 9.2% in the 4th quarter. Ameriprise Financial Inc. now owns 209,366 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 17,674 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in PIMCO Municipal Income Fund by 77.1% in the fourth quarter. Guggenheim Capital LLC now owns 556,410 shares of the financial services provider’s stock valued at $4,997,000 after purchasing an additional 242,308 shares during the last quarter.

PIMCO Municipal Income Fund Stock Down 0.8 %

NYSE:PMF traded down $0.07 during trading hours on Friday, hitting $8.92. 43,877 shares of the stock were exchanged, compared to its average volume of 76,407. The company’s 50 day moving average is $9.05 and its two-hundred day moving average is $9.45. PIMCO Municipal Income Fund has a twelve month low of $8.58 and a twelve month high of $10.50.

PIMCO Municipal Income Fund Dividend Announcement

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

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.