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

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 6,946 shares, a drop of 36.7% from the December 15th total of 10,976 shares. Based on an average daily volume of 144,470 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 144,470 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PNI. Geneos Wealth Management Inc. purchased a new position in shares of PIMCO New York Municipal Income Fund II in the third quarter valued at $68,000. Envestnet Asset Management Inc. acquired a new position in PIMCO New York Municipal Income Fund II in the 2nd quarter worth $79,000. Catalina Capital Group LLC purchased a new position in PIMCO New York Municipal Income Fund II in the 2nd quarter valued at about $100,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II during the second quarter valued at about $108,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of PIMCO New York Municipal Income Fund II during the second quarter worth about $117,000.

PIMCO New York Municipal Income Fund II Price Performance

Shares of NYSE PNI traded down $0.02 on Friday, hitting $7.05. The company had a trading volume of 50,451 shares, compared to its average volume of 36,777. PIMCO New York Municipal Income Fund II has a 12-month low of $6.43 and a 12-month high of $7.47. The business has a 50 day moving average of $6.93 and a two-hundred day moving average of $6.83.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Tuesday, January 13th will be issued a $0.0295 dividend. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, January 13th.

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.