PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Up 200.0% in May

PIMCO New York Municipal Income Fund II (NYSE:PNIGet Rating) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 6,600 shares, an increase of 200.0% from the April 30th total of 2,200 shares. Based on an average daily trading volume, of 25,000 shares, the short-interest ratio is currently 0.3 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC grew its stake in PIMCO New York Municipal Income Fund II by 7.2% in the 1st quarter. Guggenheim Capital LLC now owns 229,834 shares of the company’s stock valued at $2,184,000 after buying an additional 15,339 shares during the last quarter. Rivernorth Capital Management LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II during the 1st quarter worth approximately $1,117,000. Adviser Investments LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II during the 1st quarter worth approximately $100,000. Commonwealth Equity Services LLC grew its position in shares of PIMCO New York Municipal Income Fund II by 58.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 18,755 shares of the company’s stock worth $178,000 after purchasing an additional 6,950 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of PIMCO New York Municipal Income Fund II by 8.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 272,693 shares of the company’s stock worth $2,591,000 after purchasing an additional 20,364 shares in the last quarter.

PNI traded up $0.08 on Friday, reaching $9.33. The company had a trading volume of 31,715 shares, compared to its average volume of 23,317. PIMCO New York Municipal Income Fund II has a fifty-two week low of $8.34 and a fifty-two week high of $12.19. The company’s fifty day moving average is $9.01 and its 200 day moving average is $10.18.

The business also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Investors of record on Thursday, May 12th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, May 11th. This represents a $0.48 dividend on an annualized basis and a yield of 5.14%.

About PIMCO New York Municipal Income Fund II (Get Rating)

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.

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