Traynor Capital Management Inc. boosted its stake in Pimco Municipal Income Fund II (NYSE:PML) by 9.9% during the second quarter, Holdings Channel reports. The institutional investor owned 109,493 shares of the investment management company’s stock after buying an additional 9,893 shares during the period. Traynor Capital Management Inc.’s holdings in Pimco Municipal Income Fund II were worth $1,459,000 as of its most recent filing with the SEC.

Separately, Selway Asset Management boosted its position in Pimco Municipal Income Fund II by 39.4% in the second quarter. Selway Asset Management now owns 562,700 shares of the investment management company’s stock valued at $7,394,000 after buying an additional 159,000 shares in the last quarter.

Shares of Pimco Municipal Income Fund II (NYSE:PML) traded down 0.6958% during midday trading on Friday, hitting $13.0883. 101,494 shares of the stock traded hands. The company’s 50-day moving average is $13.32 and its 200 day moving average is $12.90. Pimco Municipal Income Fund II has a 52 week low of $11.57 and a 52 week high of $13.92.

The firm also recently announced a monthly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.065 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.78 dividend on an annualized basis and a yield of 5.92%.

WARNING: This piece of content was reported by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.dailypolitical.com/2017/08/11/pimco-municipal-income-fund-ii-pml-stake-increased-by-traynor-capital-management-inc.html.

About Pimco Municipal Income Fund II

PIMCO Municipal Income Fund II (the Fund) is a diversified, closed-end management investment company. The Fund’s primary investment objective is to seek current income exempt from federal income tax. The Fund invests approximately 90% of its net assets (and over 80% of its net assets plus any borrowings for investment purposes) in municipal bonds that pay interest that is exempt from federal income tax.

Want to see what other hedge funds are holding PML? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pimco Municipal Income Fund II (NYSE:PML).

Institutional Ownership by Quarter for Pimco Municipal Income Fund II (NYSE:PML)

Receive News & Ratings for Pimco Municipal Income Fund II Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pimco Municipal Income Fund II and related companies with MarketBeat.com's FREE daily email newsletter.