PIMCO New York Municipal Income Fund II (NYSE:PNI) Sees Large Decline in Short Interest

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 12,939 shares, a drop of 49.9% from the May 14th total of 25,809 shares. Based on an average daily volume of 46,990 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of PIMCO New York Municipal Income Fund II

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNI. International Assets Investment Management LLC purchased a new position in PIMCO New York Municipal Income Fund II in the 1st quarter valued at about $52,000. Envestnet Asset Management Inc. acquired a new stake in PIMCO New York Municipal Income Fund II during the second quarter worth approximately $79,000. Baird Financial Group Inc. purchased a new stake in PIMCO New York Municipal Income Fund II in the 2nd quarter worth approximately $117,000. Maltin Wealth Management Inc. acquired a new position in PIMCO New York Municipal Income Fund II in the 1st quarter valued at $150,000. Finally, Catalina Capital Group LLC acquired a new position in PIMCO New York Municipal Income Fund II in the 1st quarter valued at $180,000.

PIMCO New York Municipal Income Fund II Stock Up 0.3%

PNI stock opened at $7.03 on Friday. PIMCO New York Municipal Income Fund II has a 1 year low of $6.43 and a 1 year high of $7.20. The stock’s 50 day moving average price is $6.98 and its 200 day moving average price is $6.97.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be paid a dividend of $0.0295 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%.

PIMCO New York Municipal Income Fund II Company Profile

PIMCO New York Municipal Income Fund II (NYSE: PNI) is a closed-end management investment company that seeks to provide a high level of current income exempt from both federal and New York State income taxes. The fund is managed by Pacific Investment Management Company LLC (PIMCO), a global fixed income investment firm. PNI invests primarily in investment-grade municipal obligations issued by or on behalf of the state of New York, its municipalities and related public authorities.

The fund’s portfolio is constructed with a focus on New York state general obligation and revenue bonds, including transportation, education, healthcare and utility-backed securities.