PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Update

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 66,143 shares, an increase of 411.2% from the May 31st total of 12,939 shares. Based on an average daily volume of 47,735 shares, the short-interest ratio is currently 1.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the 2nd quarter valued at $79,000. Baird Financial Group Inc. bought a new position in PIMCO New York Municipal Income Fund II during the second quarter worth about $117,000. Whitebox Advisors LLC acquired a new position in PIMCO New York Municipal Income Fund II in the second quarter valued at about $310,000. Riverbridge Partners LLC increased its holdings in shares of PIMCO New York Municipal Income Fund II by 50.1% in the fourth quarter. Riverbridge Partners LLC now owns 202,579 shares of the company’s stock worth $1,396,000 after acquiring an additional 67,586 shares in the last quarter. Finally, Karpus Management Inc. raised its position in shares of PIMCO New York Municipal Income Fund II by 23.8% during the fourth quarter. Karpus Management Inc. now owns 654,456 shares of the company’s stock worth $4,509,000 after purchasing an additional 125,959 shares during the period.

PIMCO New York Municipal Income Fund II Price Performance

NYSE PNI traded up $0.01 on Friday, hitting $7.01. 74,009 shares of the company were exchanged, compared to its average volume of 49,593. PIMCO New York Municipal Income Fund II has a twelve month low of $6.43 and a twelve month high of $7.20. The company’s 50 day moving average price is $7.00 and its 200-day moving average price is $6.98.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.0295 per share. The ex-dividend date is Thursday, June 11th. This represents a c) annualized dividend 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.