PIMCO New York Municipal Income Fund II (NYSE:PNI) Trading Down 0.4% – Here’s Why

by · The Markets Daily

Shares of PIMCO New York Municipal Income Fund II (NYSE:PNI – Get Free Report) fell 0.4% during trading on Monday . The stock traded as low as $6.98 and last traded at $7.00. 88,951 shares changed hands during trading, an increase of 87% from the average session volume of 47,657 shares. The stock had previously closed at $7.03.

PIMCO New York Municipal Income Fund II Stock Performance

The firm’s 50 day moving average is $6.94 and its two-hundred day moving average is $6.97.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a $0.0295 dividend. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 5.1%.

Institutional Trading of PIMCO New York Municipal Income Fund II

A number of large investors have recently added to or reduced their stakes in PNI. International Assets Investment Management LLC acquired a new position in PIMCO New York Municipal Income Fund II in the 1st quarter worth approximately $52,000. Envestnet Asset Management Inc. acquired a new position in PIMCO New York Municipal Income Fund II in the 2nd quarter worth approximately $79,000. Baird Financial Group Inc. acquired a new position in PIMCO New York Municipal Income Fund II in the 2nd quarter worth approximately $117,000. Maltin Wealth Management Inc. acquired a new position in PIMCO New York Municipal Income Fund II in the 1st quarter worth approximately $150,000. Finally, Catalina Capital Group LLC acquired a new position in PIMCO New York Municipal Income Fund II in the 1st quarter worth approximately $180,000.

PIMCO New York Municipal Income Fund II Company Profile

(Get Free Report)

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.

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