PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Up 266.3% in February

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 30,400 shares, an increase of 266.3% from the February 13th total of 8,300 shares. Based on an average daily volume of 61,400 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC purchased a new position in PIMCO New York Municipal Income Fund II in the fourth quarter valued at approximately $39,000. Beckerman Institutional LLC raised its stake in shares of PIMCO New York Municipal Income Fund II by 49.2% in the fourth quarter. Beckerman Institutional LLC now owns 22,715 shares of the company’s stock valued at $163,000 after buying an additional 7,488 shares during the period. Wells Fargo & Company MN lifted its position in shares of PIMCO New York Municipal Income Fund II by 39.4% during the 4th quarter. Wells Fargo & Company MN now owns 24,243 shares of the company’s stock valued at $174,000 after buying an additional 6,850 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of PIMCO New York Municipal Income Fund II during the 3rd quarter worth $182,000. Finally, Noble Wealth Management PBC purchased a new stake in PIMCO New York Municipal Income Fund II in the 4th quarter worth about $446,000.

PIMCO New York Municipal Income Fund II Trading Down 0.6 %

Shares of NYSE PNI traded down $0.04 during mid-day trading on Thursday, reaching $7.19. 32,176 shares of the company’s stock were exchanged, compared to its average volume of 41,732. The firm has a 50-day moving average price of $7.26 and a two-hundred day moving average price of $7.44. PIMCO New York Municipal Income Fund II has a 52 week low of $6.96 and a 52 week high of $7.96.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be given a $0.0295 dividend. This represents a $0.35 annualized dividend and a yield of 4.92%. The ex-dividend date is Thursday, March 13th.

PIMCO New York Municipal Income Fund II Company Profile

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.