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

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 14,900 shares, a decline of 23.2% from the November 30th total of 19,400 shares. Based on an average daily volume of 59,900 shares, the short-interest ratio is currently 0.2 days.

PIMCO New York Municipal Income Fund II Stock Performance

Shares of PNI stock opened at $7.15 on Friday. The company’s fifty day moving average price is $7.40 and its 200-day moving average price is $7.52. PIMCO New York Municipal Income Fund II has a one year low of $7.07 and a one year high of $7.96.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be issued a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date is Thursday, December 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Beckerman Institutional LLC bought a new position in PIMCO New York Municipal Income Fund II in the 3rd quarter worth about $120,000. Morse Asset Management Inc bought a new position in shares of PIMCO New York Municipal Income Fund II during the 3rd quarter worth approximately $182,000. Wolverine Asset Management LLC lifted its holdings in shares of PIMCO New York Municipal Income Fund II by 365.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 29,314 shares of the company’s stock valued at $217,000 after purchasing an additional 23,015 shares during the last quarter. Palumbo Wealth Management LLC purchased a new stake in shares of PIMCO New York Municipal Income Fund II during the third quarter worth about $487,000. Finally, Logan Stone Capital LLC grew its position in PIMCO New York Municipal Income Fund II by 11.7% during the 2nd quarter. Logan Stone Capital LLC now owns 82,576 shares of the company’s stock worth $612,000 after purchasing an additional 8,651 shares during the last quarter.

About PIMCO New York Municipal Income Fund II

PIMCO New York Municipal Income Fund II is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in municipal bonds that pay interest that is exempt from federal, New York State, and New York City income tax.