PIMCO New York Municipal Income Fund II (NYSE:PNI) Stock Short Interest Report for October

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 13,087 shares, a decline of 58.9% from the September 30th total of 31,847 shares. Based on an average daily volume of 124,458 shares, the days-to-cover ratio is presently 0.1 days.

PIMCO New York Municipal Income Fund II Stock Performance

PNI traded up $0.05 during trading on Friday, reaching $6.51. 34,557 shares of the company’s stock were exchanged, compared to its average volume of 63,993. PIMCO New York Municipal Income Fund II has a 1 year low of $5.96 and a 1 year high of $7.20. The company’s fifty day simple moving average is $6.42 and its 200-day simple moving average is $6.84.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, October 13th.

Insider Activity at PIMCO New York Municipal Income Fund II

In related news, major shareholder Of America Corp /De/ Bank sold 4,846 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $6.27, for a total value of $30,384.42. Following the sale, the insider owned 7,324 shares in the company, valued at $45,921.48. This represents a 39.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rivernorth Capital Management LLC purchased a new position in PIMCO New York Municipal Income Fund II in the 1st quarter worth approximately $7,246,000. Almitas Capital LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II during the 2nd quarter worth approximately $3,314,000. Saba Capital Management L.P. purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $2,974,000. Whitebox Advisors LLC purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $2,658,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $1,061,000.

PIMCO New York Municipal Income Fund II Company Profile

PIMCO New York Municipal Income Fund II is a closed-end fund listed on the New York Stock Exchange under the symbol PNI. The fund seeks to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes.

The fund invests primarily in municipal bonds and other fixed-income securities issued by or on behalf of states, municipalities, and other public entities. Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt securities financing public services and infrastructure in New York and other municipal markets.

PNI is managed by PIMCO, an investment management firm specializing in fixed income.