PIMCO Municipal Income Fund (NYSE:PMF) Short Interest Update

PIMCO Municipal Income Fund (NYSE:PMF) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 95,500 shares, an increase of 110.4% from the February 13th total of 45,400 shares. Based on an average daily volume of 89,200 shares, the days-to-cover ratio is presently 1.1 days.

Insider Activity

In related news, major shareholder Of America Corp /De/ Bank acquired 24,110 shares of the stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $9.02 per share, for a total transaction of $217,472.20. Following the completion of the purchase, the insider now owns 24,110 shares of the company’s stock, valued at $217,472.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 25,505 shares of company stock worth $230,140 in the last quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Elequin Capital LP bought a new stake in shares of PIMCO Municipal Income Fund in the 4th quarter worth $31,000. Summit X LLC increased its holdings in shares of PIMCO Municipal Income Fund by 18.9% in the 4th quarter. Summit X LLC now owns 25,918 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 4,111 shares in the last quarter. Selway Asset Management increased its holdings in shares of PIMCO Municipal Income Fund by 3.1% in the 4th quarter. Selway Asset Management now owns 364,900 shares of the financial services provider’s stock worth $3,277,000 after purchasing an additional 11,000 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of PIMCO Municipal Income Fund in the 4th quarter worth $99,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of PIMCO Municipal Income Fund by 9.2% in the 4th quarter. Ameriprise Financial Inc. now owns 209,366 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 17,674 shares in the last quarter.

PIMCO Municipal Income Fund Stock Down 0.8 %

NYSE:PMF traded down $0.08 during trading hours on Friday, reaching $8.92. 50,263 shares of the company traded hands, compared to its average volume of 76,599. The business’s 50-day moving average price is $9.04 and its two-hundred day moving average price is $9.44. PIMCO Municipal Income Fund has a 1 year low of $8.58 and a 1 year high of $10.50.

PIMCO Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.042 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date is Thursday, March 13th.

PIMCO Municipal Income Fund Company Profile

PIMCO Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.