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 large increase in short interest in August. As of August 14th, there was short interest totaling 31,163 shares, an increase of 69.5% from the July 30th total of 18,385 shares. Based on an average daily volume of 37,169 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund II

Several institutional investors and hedge funds have recently made changes to their positions in PNI. Beacon Pointe Advisors LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II in the second quarter worth $75,000. Almitas Capital LLC bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at $3,314,000. Bank of America Corp DE bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at $812,000. Beckerman Institutional LLC acquired a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth $537,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth $207,000.

PIMCO New York Municipal Income Fund II Stock Down 0.3%

Shares of PIMCO New York Municipal Income Fund II stock traded down $0.02 during trading hours on Monday, hitting $6.81. 26,562 shares of the company’s stock traded hands, compared to its average volume of 54,964. PIMCO New York Municipal Income Fund II has a twelve month low of $6.55 and a twelve month high of $7.20. The stock has a 50 day simple moving average of $6.94 and a 200-day simple moving average of $6.97.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.0295 per share. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a yield of 5.2%.

About PIMCO New York Municipal Income Fund II

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.