PIMCO New York Municipal Income Fund II (NYSE:PNI) Sees Significant Increase in Short Interest
by Scott Moore · The Cerbat GemPIMCO New York Municipal Income Fund II (NYSE:PNI – Get Free Report) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 11,637 shares, a growth of 67.5% from the December 31st total of 6,946 shares. Based on an average trading volume of 35,445 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 35,445 shares, the short-interest ratio is presently 0.3 days.
Institutional Investors Weigh In On PIMCO New York Municipal Income Fund II
Several institutional investors and hedge funds have recently added to or reduced their stakes in PNI. Geneos Wealth Management Inc. bought a new position in shares of PIMCO New York Municipal Income Fund II in the 3rd quarter valued at about $68,000. Envestnet Asset Management Inc. bought a new stake in PIMCO New York Municipal Income Fund II during the second quarter worth about $79,000. Catalina Capital Group LLC acquired a new position in PIMCO New York Municipal Income Fund II during the second quarter valued at approximately $100,000. Focus Partners Advisor Solutions LLC bought a new position in PIMCO New York Municipal Income Fund II in the second quarter valued at approximately $108,000. Finally, Baird Financial Group Inc. bought a new position in PIMCO New York Municipal Income Fund II in the second quarter valued at approximately $117,000.
PIMCO New York Municipal Income Fund II Stock Up 0.7%
Shares of PNI opened at $6.99 on Monday. PIMCO New York Municipal Income Fund II has a twelve month low of $6.43 and a twelve month high of $7.47. The company has a 50 day moving average of $6.93 and a 200-day moving average of $6.84.
PIMCO New York Municipal Income Fund II Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Tuesday, January 13th will be given a $0.0295 dividend. The ex-dividend date of this dividend is Tuesday, January 13th. This represents a c) dividend on an annualized basis and a yield of 5.1%.
PIMCO New York Municipal Income Fund II Company Profile
PIMCO New York Municipal Income Fund II (NYSE: PNI) is a closed-end management investment company that seeks to provide a high level of current income exempt from both federal and New York State income taxes. The fund is managed by Pacific Investment Management Company LLC (PIMCO), a global fixed income investment firm. PNI invests primarily in investment-grade municipal obligations issued by or on behalf of the state of New York, its municipalities and related public authorities.
The fund’s portfolio is constructed with a focus on New York state general obligation and revenue bonds, including transportation, education, healthcare and utility-backed securities.