PIMCO Municipal Income Fund II (NYSE:PML) Stock Short Interest Climbs 111.7%

PIMCO Municipal Income Fund II (NYSE:PML) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 231,787 shares, a growth of 111.7% from the August 31st total of 109,512 shares. Based on an average daily volume of 492,999 shares, the days-to-cover ratio is currently 0.5 days.

PIMCO Municipal Income Fund II Stock Down 0.5%

Shares of PML opened at $6.46 on Wednesday. PIMCO Municipal Income Fund II has a fifty-two week low of $6.40 and a fifty-two week high of $8.01. The firm’s 50 day moving average price is $7.18 and its 200 day moving average price is $7.40.

PIMCO Municipal Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.0395 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.47 annualized dividend and a dividend yield of 7.3%.

Insider Activity

In other PIMCO Municipal Income Fund II news, Director Sonya Morris acquired 5,000 shares of the stock in a transaction dated Tuesday, July 21st. The stock was acquired at an average price of $7.50 per share, with a total value of $37,500.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at $75,000. This trade represents a 100.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of PIMCO Municipal Income Fund II

Hedge funds have recently modified their holdings of the stock. Rivernorth Capital Management LLC grew its stake in PIMCO Municipal Income Fund II by 5.4% during the 2nd quarter. Rivernorth Capital Management LLC now owns 4,482,914 shares of the investment management company’s stock worth $34,115,000 after purchasing an additional 231,386 shares in the last quarter. Bank of America Corp DE acquired a new stake in PIMCO Municipal Income Fund II in the 2nd quarter valued at about $8,244,000. Arkadios Wealth Advisors acquired a new stake in PIMCO Municipal Income Fund II in the 1st quarter valued at about $8,240,000. Van ECK Associates Corp raised its position in PIMCO Municipal Income Fund II by 4.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,077,922 shares of the investment management company’s stock valued at $8,203,000 after purchasing an additional 41,111 shares in the last quarter. Finally, Wagner Wealth Management LLC boosted its stake in shares of PIMCO Municipal Income Fund II by 11.2% in the 1st quarter. Wagner Wealth Management LLC now owns 1,082,412 shares of the investment management company’s stock valued at $8,194,000 after buying an additional 108,907 shares during the period.

PIMCO Municipal Income Fund II Company Profile

PIMCO Municipal Income Fund II (NYSE: PML) is a closed-end management investment company that seeks to provide current income that is exempt from federal income tax. The fund is managed by Pacific Investment Management Company LLC (PIMCO), an investment management firm specializing in fixed-income and other asset classes.

PML primarily invests in municipal bonds and other municipal securities issued by states, territories, and local governments in the United States, as well as related public authorities and governmental entities.