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

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 35,244 shares, a growth of 169.3% from the October 15th total of 13,087 shares. Based on an average daily volume of 89,617 shares, the days-to-cover ratio is currently 0.4 days.

PIMCO New York Municipal Income Fund II Stock Performance

NYSE:PNI opened at $6.47 on Friday. The business has a 50 day simple moving average of $6.38 and a 200 day simple moving average of $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 business also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, November 13th.

Insider Buying and Selling at PIMCO New York Municipal Income Fund II

In related news, major shareholder Of America Corp /De/ Bank sold 4,846 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $6.27, for a total value of $30,384.42. Following the sale, the insider owned 7,324 shares of the company’s stock, valued at approximately $45,921.48. This trade represents a 39.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund II

Hedge funds and other institutional investors have recently modified their holdings of the company. Morse Asset Management Inc increased its holdings in shares of PIMCO New York Municipal Income Fund II by 23.2% in the 3rd quarter. Morse Asset Management Inc now owns 54,476 shares of the company’s stock worth $333,000 after acquiring an additional 10,253 shares during the period. Commonwealth Equity Services LLC lifted its position in PIMCO New York Municipal Income Fund II by 43.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 157,837 shares of the company’s stock valued at $966,000 after purchasing an additional 47,441 shares during the last quarter. Sowell Financial Services LLC boosted its stake in PIMCO New York Municipal Income Fund II by 100.0% during the 3rd quarter. Sowell Financial Services LLC now owns 47,000 shares of the company’s stock valued at $288,000 after purchasing an additional 23,500 shares during the period. CoreCap Advisors LLC acquired a new position in PIMCO New York Municipal Income Fund II during the 3rd quarter valued at about $26,000. Finally, Robinson Capital Management LLC boosted its stake in PIMCO New York Municipal Income Fund II by 36.3% during 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 during the period.

PIMCO New York Municipal Income Fund II Company Profile

PIMCO New York Municipal Income Fund II is a closed-end investment company 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 income taxes, subject to applicable tax rules. The fund invests primarily in municipal bonds and other municipal securities issued by or on behalf of New York State, New York City, and related public authorities and governmental entities. Its portfolio may include securities financing public infrastructure and essential services, such as transportation, education, utilities, health care, and housing.