PIMCO Municipal Income Fund (NYSE:PMF) Sees Significant Drop in Short Interest

PIMCO Municipal Income Fund (NYSE:PMF) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 75,400 shares, a drop of 21.0% from the February 28th total of 95,500 shares. Based on an average trading volume of 77,500 shares, the days-to-cover ratio is presently 1.0 days.

Insider Buying and Selling

In other PIMCO Municipal Income Fund news, major shareholder Of America Corp /De/ Bank bought 24,110 shares of PIMCO Municipal Income Fund stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of $9.02 per share, for a total transaction of $217,472.20. Following the completion of the transaction, the insider now owns 24,110 shares of the company’s stock, valued at $217,472.20. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have bought 25,505 shares of company stock worth $230,140.

Hedge Funds Weigh In On PIMCO Municipal Income Fund

A number of large investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its stake in shares of PIMCO Municipal Income Fund by 13.5% during the 4th quarter. Captrust Financial Advisors now owns 264,584 shares of the financial services provider’s stock valued at $2,376,000 after buying an additional 31,456 shares during the period. Guggenheim Capital LLC boosted its holdings in PIMCO Municipal Income Fund by 77.1% in the fourth quarter. Guggenheim Capital LLC now owns 556,410 shares of the financial services provider’s stock valued at $4,997,000 after acquiring an additional 242,308 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in PIMCO Municipal Income Fund during the fourth quarter valued at about $185,000. Selway Asset Management increased its stake in PIMCO Municipal Income Fund by 3.1% during the fourth quarter. Selway Asset Management now owns 364,900 shares of the financial services provider’s stock worth $3,277,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Uniting Wealth Partners LLC purchased a new position in shares of PIMCO Municipal Income Fund in the 4th quarter worth about $188,000.

PIMCO Municipal Income Fund Trading Up 0.4 %

Shares of NYSE PMF traded up $0.04 on Tuesday, reaching $8.88. 51,718 shares of the company traded hands, compared to its average volume of 75,703. PIMCO Municipal Income Fund has a fifty-two week low of $8.58 and a fifty-two week high of $10.50. The company has a 50 day moving average of $9.06 and a 200 day moving average of $9.38.

PIMCO Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.042 per share. This represents a $0.50 annualized dividend and a yield of 5.68%. The ex-dividend date is Thursday, March 13th.

About PIMCO Municipal Income Fund

PIMCO Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.