PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Update
by Teresa Graham · The Cerbat GemPIMCO New York Municipal Income Fund II (NYSE:PNI – Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 30,966 shares, an increase of 194.3% from the March 15th total of 10,523 shares. Based on an average daily volume of 49,099 shares, the short-interest ratio is currently 0.6 days.
Hedge Funds Weigh In On PIMCO New York Municipal Income Fund II
Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 3rd quarter worth about $68,000. Envestnet Asset Management Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth about $79,000. Baird Financial Group Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth about $117,000. Dopkins Wealth Management LLC increased its holdings in PIMCO New York Municipal Income Fund II by 83.8% during the 3rd quarter. Dopkins Wealth Management LLC now owns 28,646 shares of the company’s stock worth $199,000 after purchasing an additional 13,061 shares in the last quarter. Finally, Whitebox Advisors LLC bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth about $310,000.
PIMCO New York Municipal Income Fund II Price Performance
PNI stock traded down $0.02 during trading hours on Friday, reaching $6.98. 9,434 shares of the stock were exchanged, compared to its average volume of 50,883. The firm’s 50-day moving average is $6.99 and its 200-day moving average is $6.96. PIMCO New York Municipal Income Fund II has a 12 month low of $6.43 and a 12 month high of $7.20.
PIMCO New York Municipal Income Fund II Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Monday, April 13th will be issued a dividend of $0.0295 per share. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Monday, April 13th.
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.