PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Update

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 66,143 shares, an increase of 411.2% from the May 31st total of 12,939 shares. Based on an average daily volume of 47,735 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of PIMCO New York Municipal Income Fund II

Large investors have recently bought and sold shares of the company. Bank of America Corp DE bought a new position in shares of PIMCO New York Municipal Income Fund II during the first quarter valued at about $613,000. Karpus Management Inc. raised its stake in shares of PIMCO New York Municipal Income Fund II by 23.8% during the fourth quarter. Karpus Management Inc. now owns 654,456 shares of the company’s stock valued at $4,509,000 after acquiring an additional 125,959 shares during the last quarter. Whitebox Advisors LLC purchased a new stake in shares of PIMCO New York Municipal Income Fund II during the second quarter worth about $310,000. Baird Financial Group Inc. purchased a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at about $117,000. Finally, Envestnet Asset Management Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at approximately $79,000.

PIMCO New York Municipal Income Fund II Price Performance

PNI stock traded up $0.01 during midday trading on Friday, hitting $7.01. The stock had a trading volume of 74,009 shares, compared to its average volume of 49,593. The business has a fifty day moving average price of $7.00 and a two-hundred day moving average price of $6.98. PIMCO New York Municipal Income Fund II has a 1-year low of $6.43 and a 1-year high of $7.20.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 11th will be paid a $0.0295 dividend. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Thursday, June 11th.

About PIMCO New York Municipal Income Fund II

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.