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

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 28,670 shares, a drop of 56.7% from the June 15th total of 66,143 shares. Based on an average daily volume of 73,131 shares, the days-to-cover ratio is currently 0.4 days.

PIMCO New York Municipal Income Fund II Stock Up 0.3%

Shares of NYSE:PNI traded up $0.02 during trading on Tuesday, hitting $7.02. 57,574 shares of the company’s stock were exchanged, compared to its average volume of 53,160. PIMCO New York Municipal Income Fund II has a 1-year low of $6.43 and a 1-year high of $7.20. The firm has a 50-day moving average price of $7.01 and a two-hundred day moving average price of $6.99.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be paid a $0.0295 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%.

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

Several institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II during the first quarter worth $52,000. Envestnet Asset Management Inc. bought a new stake in PIMCO New York Municipal Income Fund II in the 2nd quarter valued at approximately $79,000. Baird Financial Group Inc. bought a new stake in PIMCO New York Municipal Income Fund II in the 2nd quarter valued at approximately $117,000. Maltin Wealth Management Inc. bought a new stake in PIMCO New York Municipal Income Fund II in the 1st quarter valued at approximately $150,000. Finally, Noble Wealth Management PBC acquired a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth approximately $157,000.

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.