PIMCO Municipal Income Fund (NYSE:PMF) Short Interest Update

PIMCO Municipal Income Fund (NYSE:PMF) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 203,900 shares, an increase of 61.8% from the October 31st total of 126,000 shares. Based on an average daily trading volume, of 76,200 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of PIMCO Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. increased its stake in PIMCO Municipal Income Fund by 12.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 21,806 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 2,346 shares in the last quarter. Truist Financial Corp increased its position in shares of PIMCO Municipal Income Fund by 0.6% in the 2nd quarter. Truist Financial Corp now owns 605,110 shares of the financial services provider’s stock valued at $5,549,000 after buying an additional 3,601 shares in the last quarter. Selway Asset Management raised its stake in PIMCO Municipal Income Fund by 1.4% during the 3rd quarter. Selway Asset Management now owns 353,900 shares of the financial services provider’s stock worth $3,652,000 after buying an additional 5,000 shares during the period. Traynor Capital Management Inc. lifted its holdings in PIMCO Municipal Income Fund by 3.9% during the second quarter. Traynor Capital Management Inc. now owns 134,871 shares of the financial services provider’s stock worth $1,237,000 after acquiring an additional 5,034 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in PIMCO Municipal Income Fund in the second quarter valued at about $71,000.

PIMCO Municipal Income Fund Stock Performance

Shares of PMF stock traded up $0.08 during trading hours on Friday, reaching $9.64. The company had a trading volume of 26,187 shares, compared to its average volume of 69,112. PIMCO Municipal Income Fund has a 1-year low of $8.83 and a 1-year high of $10.50. The company has a 50 day moving average of $9.87 and a 200 day moving average of $9.53.

PIMCO Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.042 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.50 annualized dividend and a dividend yield of 5.23%.

About PIMCO Municipal Income Fund

PIMCO Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.