PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Down 56.7% in June

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 28,670 shares, a drop of 56.7% from the June 15th total of 66,143 shares. Based on an average daily trading volume, of 73,131 shares, the short-interest ratio is currently 0.4 days.

PIMCO New York Municipal Income Fund II Trading Down 0.1%

Shares of PNI traded down $0.00 during trading hours on Wednesday, hitting $7.04. 84,260 shares of the stock traded hands, compared to its average volume of 53,741. PIMCO New York Municipal Income Fund II has a 1-year low of $6.43 and a 1-year high of $7.20. The business has a fifty day moving average of $7.01 and a 200-day moving average of $6.99.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be issued a dividend of $0.0295 per share. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, July 13th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PNI. Rivernorth Capital Management LLC bought a new position in PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $7,246,000. Saba Capital Management L.P. bought a new stake in shares of PIMCO New York Municipal Income Fund II during the 1st quarter valued at $2,974,000. Whitebox Advisors LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II in the 1st quarter valued at $2,658,000. Bank of New York Mellon Corp acquired a new position in shares of PIMCO New York Municipal Income Fund II in the 1st quarter valued at $1,061,000. Finally, 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.

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.