PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Down 61.3% in July

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 6,700 shares, a drop of 61.3% from the July 15th total of 17,300 shares. Based on an average daily trading volume, of 27,800 shares, the short-interest ratio is currently 0.2 days.

PIMCO New York Municipal Income Fund II Price Performance

Shares of NYSE:PNI traded down $0.03 during trading on Thursday, reaching $7.51. 14,104 shares of the company’s stock traded hands, compared to its average volume of 26,439. PIMCO New York Municipal Income Fund II has a fifty-two week low of $6.03 and a fifty-two week high of $7.73. The company has a 50-day simple moving average of $7.47 and a 200-day simple moving average of $7.41.

PIMCO New York Municipal Income Fund II Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, August 12th. This is a boost from PIMCO New York Municipal Income Fund II’s previous monthly dividend of $0.03. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.79%.

Institutional Investors Weigh In On PIMCO New York Municipal Income Fund II

Institutional investors have recently modified their holdings of the business. Herold Advisors Inc. grew its position in shares of PIMCO New York Municipal Income Fund II by 37.8% during the 4th quarter. Herold Advisors Inc. now owns 14,902 shares of the company’s stock valued at $113,000 after acquiring an additional 4,084 shares during the period. Wolverine Asset Management LLC boosted its holdings in PIMCO New York Municipal Income Fund II by 365.4% in the 2nd quarter. Wolverine Asset Management LLC now owns 29,314 shares of the company’s stock worth $217,000 after buying an additional 23,015 shares during the last quarter. Logan Stone Capital LLC boosted its holdings in PIMCO New York Municipal Income Fund II by 11.7% in the 2nd quarter. Logan Stone Capital LLC now owns 82,576 shares of the company’s stock worth $612,000 after buying an additional 8,651 shares during the last quarter. Matisse Capital acquired a new stake in PIMCO New York Municipal Income Fund II in the 4th quarter worth about $755,000. Finally, Robinson Capital Management LLC acquired a new stake in PIMCO New York Municipal Income Fund II in the 4th quarter worth about $1,242,000.

About PIMCO New York Municipal Income Fund II

PIMCO New York Municipal Income Fund II is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in municipal bonds that pay interest that is exempt from federal, New York State, and New York City income tax.