Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Drops By 64.3%
by Doug Wharley · The Cerbat GemPIMCO New York Municipal Income Fund II (NYSE:PNI – Get Free Report) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 4,159 shares, a decline of 64.3% from the January 15th total of 11,637 shares. Based on an average daily trading volume, of 50,508 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 50,508 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new position in PIMCO New York Municipal Income Fund II in the 3rd quarter valued at $68,000. Envestnet Asset Management Inc. acquired a new position in shares of PIMCO New York Municipal Income Fund II during the second quarter valued at $79,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II during the second quarter valued at $108,000. Baird Financial Group Inc. bought a new position in PIMCO New York Municipal Income Fund II in the second quarter valued at about $117,000. Finally, Dopkins Wealth Management LLC increased its position in PIMCO New York Municipal Income Fund II by 83.8% in the third quarter. Dopkins Wealth Management LLC now owns 28,646 shares of the company’s stock worth $199,000 after purchasing an additional 13,061 shares during the period.
PIMCO New York Municipal Income Fund II Stock Up 0.1%
NYSE:PNI traded up $0.01 during mid-day trading on Friday, reaching $7.08. 27,377 shares of the company were exchanged, compared to its average volume of 58,549. PIMCO New York Municipal Income Fund II has a 12 month low of $6.43 and a 12 month high of $7.47. The company has a fifty day moving average of $6.96 and a 200 day moving average of $6.87.
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. Stockholders of record on Thursday, February 12th will be paid a dividend of $0.0295 per share. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, February 12th.
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.