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

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 31,847 shares, an increase of 72.3% from the September 15th total of 18,484 shares. Based on an average daily trading volume, of 67,530 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the 3rd quarter valued at approximately $26,000. Robinson Capital Management LLC raised its holdings in shares of PIMCO New York Municipal Income Fund II by 36.3% in the 2nd quarter. Robinson Capital Management LLC now owns 389,726 shares of the company’s stock valued at $2,763,000 after purchasing an additional 103,844 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the 2nd quarter valued at $75,000. Almitas Capital LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the 2nd quarter valued at $3,314,000. Finally, Bank of America Corp DE purchased a new stake in shares of PIMCO New York Municipal Income Fund II during the 2nd quarter worth $812,000.

PIMCO New York Municipal Income Fund II Stock Up 1.7%

Shares of PNI stock traded up $0.10 during trading hours on Thursday, reaching $6.21. 199,290 shares of the stock were exchanged, compared to its average volume of 61,926. The business’s fifty day moving average is $6.55 and its two-hundred day moving average is $6.82. PIMCO New York Municipal Income Fund II has a 12-month low of $5.96 and a 12-month high of $7.20.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a $0.0295 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $0.35 dividend on an annualized basis and a yield of 5.7%.

PIMCO New York Municipal Income Fund II Company Profile

PIMCO New York Municipal Income Fund II is a closed-end fund listed on the New York Stock Exchange under the symbol PNI. The fund seeks to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes.

The fund invests primarily in municipal bonds and other fixed-income securities issued by or on behalf of states, municipalities, and other public entities. Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt securities financing public services and infrastructure in New York and other municipal markets.

PNI is managed by PIMCO, an investment management firm specializing in fixed income.