434,145 Shares in PIMCO New York Municipal Income Fund II $PNI Purchased by Saba Capital Management L.P.

Saba Capital Management L.P. bought a new stake in PIMCO New York Municipal Income Fund II (NYSE:PNI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 434,145 shares of the company’s stock, valued at approximately $2,974,000.

Other institutional investors also recently modified their holdings of the company. Karpus Management Inc. boosted its position in shares of PIMCO New York Municipal Income Fund II by 23.8% in the 4th 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 last quarter. Whitebox Advisors LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II during the first quarter worth $2,658,000. Riverbridge Partners LLC increased its holdings in PIMCO New York Municipal Income Fund II by 10.2% in the first quarter. Riverbridge Partners LLC now owns 223,261 shares of the company’s stock valued at $1,529,000 after purchasing an additional 20,682 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in PIMCO New York Municipal Income Fund II in the first quarter valued at about $1,061,000. Finally, Lido Advisors LLC acquired a new position in PIMCO New York Municipal Income Fund II in the first quarter valued at about $672,000.

PIMCO New York Municipal Income Fund II Trading Down 0.3%

Shares of NYSE:PNI opened at $6.82 on Tuesday. The firm’s 50 day simple moving average is $7.00 and its 200 day simple moving average is $6.99. PIMCO New York Municipal Income Fund II has a fifty-two week low of $6.43 and a fifty-two week 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, August 3rd. Stockholders of record on Monday, July 13th will be issued a $0.0295 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) annualized dividend and a dividend yield of 5.2%.

PIMCO New York Municipal Income Fund II 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.