PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Up 69.5% in August
by Scott Moore · The Cerbat GemPIMCO New York Municipal Income Fund II (NYSE:PNI – Get Free Report) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 31,163 shares, a growth of 69.5% from the July 30th total of 18,385 shares. Based on an average daily trading volume, of 37,169 shares, the days-to-cover ratio is presently 0.8 days.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $52,000. Beacon Pointe Advisors LLC bought a new stake in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at $75,000. Envestnet Asset Management Inc. purchased a new stake in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at $79,000. Baird Financial Group Inc. purchased a new stake in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at $117,000. Finally, Maltin Wealth Management Inc. bought a new stake in PIMCO New York Municipal Income Fund II in the 1st quarter worth $150,000.
PIMCO New York Municipal Income Fund II Trading Down 0.7%
Shares of PNI stock traded down $0.05 during trading hours on Tuesday, hitting $6.76. 32,011 shares of the company’s stock were exchanged, compared to its average volume of 54,826. PIMCO New York Municipal Income Fund II has a 12-month low of $6.55 and a 12-month high of $7.20. The business’s 50 day simple moving average is $6.93 and its 200-day simple moving average is $6.97.
PIMCO New York Municipal Income Fund II Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be given a dividend of $0.0295 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Thursday, August 13th.
About PIMCO New York Municipal Income Fund II
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.