PIMCO New York Municipal Income Fund II (NYSE:PNI) Sees Significant Decrease in Short Interest

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a significant decrease in short interest in January. As of January 30th, there was short interest totaling 4,159 shares, a decrease of 64.3% from the January 15th total of 11,637 shares. Based on an average trading volume of 50,508 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 50,508 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On PIMCO New York Municipal Income Fund II

A number of hedge funds and other institutional investors have recently made changes to their positions in PNI. Geneos Wealth Management Inc. bought a new stake in shares of PIMCO New York Municipal Income Fund II during the 3rd quarter worth approximately $68,000. Envestnet Asset Management Inc. bought a new position in shares of PIMCO New York Municipal Income Fund II in the second quarter valued at $79,000. Focus Partners Advisor Solutions LLC acquired a new position in PIMCO New York Municipal Income Fund II during the second quarter worth $108,000. Baird Financial Group Inc. bought a new stake in PIMCO New York Municipal Income Fund II during the second quarter worth $117,000. Finally, Dopkins Wealth Management LLC raised its position in PIMCO New York Municipal Income Fund II by 83.8% during the third quarter. Dopkins Wealth Management LLC now owns 28,646 shares of the company’s stock worth $199,000 after acquiring an additional 13,061 shares in the last quarter.

PIMCO New York Municipal Income Fund II Trading Up 0.1%

Shares of NYSE:PNI traded up $0.01 during trading on Friday, hitting $7.08. 27,377 shares of the company’s stock traded hands, compared to its average volume of 58,549. The company has a 50-day moving average price of $6.96 and a 200-day moving average price of $6.88. PIMCO New York Municipal Income Fund II has a 52 week low of $6.43 and a 52 week high of $7.47.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be paid a $0.0295 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

PIMCO New York Municipal Income Fund II Company Profile

PIMCO New York Municipal Income Fund II (NYSE: PNI) is a closed-end management investment company that seeks to provide a high level of current income exempt from both federal and New York State income taxes. The fund is managed by Pacific Investment Management Company LLC (PIMCO), a global fixed income investment firm. PNI invests primarily in investment-grade municipal obligations issued by or on behalf of the state of New York, its municipalities and related public authorities.

The fund’s portfolio is constructed with a focus on New York state general obligation and revenue bonds, including transportation, education, healthcare and utility-backed securities.