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

PIMCO Municipal Income Fund (NYSE:PMF) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 95,500 shares, an increase of 110.4% from the February 13th total of 45,400 shares. Based on an average daily volume of 89,200 shares, the short-interest ratio is presently 1.1 days.

Insider Activity at PIMCO Municipal Income Fund

In other news, major shareholder Of America Corp /De/ Bank bought 24,110 shares of the stock in a transaction on Friday, February 21st. The shares were bought at an average price of $9.02 per share, with a total value of $217,472.20. Following the completion of the acquisition, the insider now owns 24,110 shares in the company, valued at $217,472.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 25,505 shares of company stock worth $230,140 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Elequin Capital LP bought a new stake in PIMCO Municipal Income Fund during the 4th quarter valued at approximately $31,000. Summit X LLC raised its position in PIMCO Municipal Income Fund by 18.9% during the fourth quarter. Summit X LLC now owns 25,918 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 4,111 shares during the period. Selway Asset Management lifted its position in PIMCO Municipal Income Fund by 3.1% in the fourth quarter. Selway Asset Management now owns 364,900 shares of the financial services provider’s stock worth $3,277,000 after buying an additional 11,000 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of PIMCO Municipal Income Fund in the 4th quarter worth about $99,000. Finally, Ameriprise Financial Inc. lifted its stake in PIMCO Municipal Income Fund by 9.2% in the fourth quarter. Ameriprise Financial Inc. now owns 209,366 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 17,674 shares during the last quarter.

PIMCO Municipal Income Fund Price Performance

PMF opened at $8.92 on Friday. PIMCO Municipal Income Fund has a 12-month low of $8.58 and a 12-month high of $10.50. The company’s 50 day moving average is $9.04 and its 200 day moving average is $9.44.

PIMCO Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be paid a $0.042 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 5.65%.

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.