PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Update

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 10,523 shares, a drop of 85.6% from the February 26th total of 73,080 shares. Based on an average trading volume of 48,286 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 48,286 shares, the days-to-cover ratio is currently 0.2 days.

PIMCO New York Municipal Income Fund II Stock Up 0.1%

Shares of PNI traded up $0.01 during trading hours on Wednesday, hitting $6.75. The stock had a trading volume of 45,549 shares, compared to its average volume of 50,696. The company’s fifty day moving average is $7.03 and its two-hundred day moving average is $6.97. PIMCO New York Municipal Income Fund II has a 52 week low of $6.43 and a 52 week high of $7.23.

PIMCO New York Municipal Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.0295 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PNI. Hennion & Walsh Asset Management Inc. grew its position in PIMCO New York Municipal Income Fund II by 189.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 417,718 shares of the company’s stock worth $2,903,000 after acquiring an additional 273,530 shares during the last quarter. Karpus Management Inc. raised its position in 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 valued at $4,509,000 after purchasing an additional 125,959 shares during the last quarter. Riverbridge Partners LLC boosted its stake in PIMCO New York Municipal Income Fund II by 50.1% in the fourth quarter. Riverbridge Partners LLC now owns 202,579 shares of the company’s stock worth $1,396,000 after purchasing an additional 67,586 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new position in PIMCO New York Municipal Income Fund II in the second quarter worth $325,000. Finally, Whitebox Advisors LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II during the second quarter worth $310,000.

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.