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

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 15,800 shares, a drop of 35.0% from the September 30th total of 24,300 shares. Based on an average trading volume of 45,100 shares, the days-to-cover ratio is presently 0.4 days.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Palumbo Wealth Management LLC acquired a new position in PIMCO New York Municipal Income Fund II during the 3rd quarter worth approximately $487,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of PIMCO New York Municipal Income Fund II by 4.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 211,829 shares of the company’s stock valued at $1,671,000 after purchasing an additional 9,976 shares during the period. Logan Stone Capital LLC lifted its position in shares of PIMCO New York Municipal Income Fund II by 11.7% during the second 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 in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of PIMCO New York Municipal Income Fund II by 365.4% in the second 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 period. Finally, Matisse Capital grew its holdings in PIMCO New York Municipal Income Fund II by 29.2% during the 2nd quarter. Matisse Capital now owns 128,524 shares of the company’s stock valued at $952,000 after purchasing an additional 29,017 shares in the last quarter.

PIMCO New York Municipal Income Fund II Stock Down 0.5 %

Shares of NYSE:PNI traded down $0.04 during trading on Tuesday, reaching $7.40. 72,022 shares of the stock were exchanged, compared to its average volume of 30,263. PIMCO New York Municipal Income Fund II has a 12-month low of $6.05 and a 12-month high of $7.96. The firm’s 50-day moving average price is $7.68 and its 200 day moving average price is $7.48.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 11th will be paid a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Friday, October 11th.

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.