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

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

PIMCO Municipal Income Fund Price Performance

Shares of PIMCO Municipal Income Fund stock traded down $0.08 during trading on Friday, hitting $8.92. 50,263 shares of the stock traded hands, compared to its average volume of 76,599. The firm’s fifty day moving average is $9.04 and its 200-day moving average is $9.44. PIMCO Municipal Income Fund has a 52 week low of $8.58 and a 52 week high of $10.50.

PIMCO Municipal Income Fund Dividend Announcement

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

Insiders Place Their Bets

In other news, major shareholder Of America Corp /De/ Bank acquired 24,110 shares of PIMCO Municipal Income Fund stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of $9.02 per share, for a total transaction of $217,472.20. Following the transaction, the insider now owns 24,110 shares of the company’s stock, valued at $217,472.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 25,505 shares of company stock worth $230,140 in the last ninety days.

Hedge Funds Weigh In On PIMCO Municipal Income Fund

Several institutional investors have recently modified their holdings of PMF. Elequin Capital LP bought a new position in shares of PIMCO Municipal Income Fund during the 4th quarter valued at about $31,000. Citadel Advisors LLC bought a new position in PIMCO Municipal Income Fund during the 4th quarter worth approximately $99,000. Raymond James Financial Inc. bought a new position in PIMCO Municipal Income Fund during the 4th quarter worth approximately $185,000. Uniting Wealth Partners LLC bought a new position in PIMCO Municipal Income Fund during the 4th quarter worth approximately $188,000. Finally, Virtu Financial LLC bought a new position in PIMCO Municipal Income Fund during the 4th quarter worth approximately $226,000.

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.