PIMCO Municipal Income Fund II $PML Stock: Williams & Novak Wealth Management LLC Increases Position

Williams & Novak Wealth Management LLC grew its position in PIMCO Municipal Income Fund II (NYSE:PML) by 48.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 503,025 shares of the investment management company’s stock after acquiring an additional 164,500 shares during the period. PIMCO Municipal Income Fund II comprises 2.0% of Williams & Novak Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Williams & Novak Wealth Management LLC’s holdings in PIMCO Municipal Income Fund II were worth $3,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rareview Capital LLC acquired a new stake in shares of PIMCO Municipal Income Fund II in the 2nd quarter valued at approximately $1,729,000. Robinson Capital Management LLC raised its position in PIMCO Municipal Income Fund II by 68.0% in the second quarter. Robinson Capital Management LLC now owns 856,682 shares of the investment management company’s stock worth $6,519,000 after acquiring an additional 346,632 shares in the last quarter. Wagner Wealth Management LLC lifted its holdings in PIMCO Municipal Income Fund II by 11.2% in the first quarter. Wagner Wealth Management LLC now owns 1,082,412 shares of the investment management company’s stock valued at $8,194,000 after acquiring an additional 108,907 shares during the period. Gridiron Partners LLC boosted its position in shares of PIMCO Municipal Income Fund II by 30.4% during the 2nd quarter. Gridiron Partners LLC now owns 830,828 shares of the investment management company’s stock worth $6,323,000 after purchasing an additional 193,558 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of PIMCO Municipal Income Fund II during the 2nd quarter worth $8,244,000.

PIMCO Municipal Income Fund II Trading Up 1.0%

Shares of PML opened at $6.61 on Friday. PIMCO Municipal Income Fund II has a 52-week low of $6.39 and a 52-week high of $8.01. The company has a 50-day simple moving average of $7.05 and a 200-day simple moving average of $7.34.

PIMCO Municipal Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a $0.0395 dividend. This represents a $0.47 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Tuesday, October 13th.

Insiders Place Their Bets

In other PIMCO Municipal Income Fund II news, Director Sonya Morris purchased 5,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were acquired at an average cost of $7.50 per share, for a total transaction of $37,500.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $75,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

PIMCO Municipal Income Fund II Profile

PIMCO Municipal Income Fund II (NYSE: PML) is a closed-end management investment company that seeks to provide current income that is exempt from federal income tax. The fund is managed by Pacific Investment Management Company LLC (PIMCO), an investment management firm specializing in fixed-income and other asset classes.

PML primarily invests in municipal bonds and other municipal securities issued by states, territories, and local governments in the United States, as well as related public authorities and governmental entities.