PIMCO Municipal Income Fund II (NYSE:PML) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of PIMCO Municipal Income Fund II (NYSE:PML) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $6.79 and traded as low as $6.71. PIMCO Municipal Income Fund II shares last traded at $6.7450, with a volume of 783,676 shares trading hands.

PIMCO Municipal Income Fund II Stock Performance

The firm has a 50 day simple moving average of $6.79 and a 200 day simple moving average of $7.35.

PIMCO Municipal Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of $0.0395 per share. This represents a $0.47 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 13th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Smith Moore & CO. lifted its holdings in PIMCO Municipal Income Fund II by 16.8% during the third quarter. Smith Moore & CO. now owns 89,274 shares of the investment management company’s stock valued at $587,000 after purchasing an additional 12,868 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of PIMCO Municipal Income Fund II in the third quarter worth $6,219,000. StoneX Group Inc. increased its stake in shares of PIMCO Municipal Income Fund II by 49.3% in the third quarter. StoneX Group Inc. now owns 43,596 shares of the investment management company’s stock worth $307,000 after purchasing an additional 14,404 shares in the last quarter. Capital Investment Advisors LLC increased its stake in shares of PIMCO Municipal Income Fund II by 124.4% in the third quarter. Capital Investment Advisors LLC now owns 47,923 shares of the investment management company’s stock worth $315,000 after purchasing an additional 26,570 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new stake in shares of PIMCO Municipal Income Fund II during the 3rd quarter valued at $139,000.

PIMCO Municipal Income Fund II Company Profile

PIMCO Municipal Income Fund II is a closed-end investment fund listed on the New York Stock Exchange under the symbol PML. The fund is managed by Pacific Investment Management Company LLC (PIMCO), an investment management firm, and is designed to provide current income that is exempt from regular U.S. federal income tax. It may also seek capital appreciation as a secondary investment objective. The fund invests primarily in municipal bonds and other municipal securities issued by U.S. states, territories, possessions, municipalities and related public entities.