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

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 31,163 shares, a growth of 69.5% from the July 30th total of 18,385 shares. Based on an average trading volume of 37,169 shares, the days-to-cover ratio is currently 0.8 days.

PIMCO New York Municipal Income Fund II Stock Performance

Shares of PNI stock traded down $0.02 on Monday, hitting $6.81. 26,562 shares of the stock traded hands, compared to its average volume of 54,964. The company’s fifty day moving average is $6.94 and its 200 day moving average is $6.97. PIMCO New York Municipal Income Fund II has a 1-year low of $6.55 and a 1-year high of $7.20.

PIMCO New York Municipal Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.0295 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Thursday, August 13th.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund II

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of PIMCO New York Municipal Income Fund II during the first quarter valued at approximately $52,000. Beacon Pointe Advisors LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II in the 2nd quarter worth approximately $75,000. Envestnet Asset Management Inc. acquired a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at approximately $79,000. Baird Financial Group Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth $117,000. Finally, Maltin Wealth Management Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 1st quarter worth $150,000.

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.