Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Rises By 605.9%

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 12,000 shares, an increase of 605.9% from the October 31st total of 1,700 shares. Based on an average daily volume of 45,300 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund II

A number of large investors have recently made changes to their positions in PNI. Morse Asset Management Inc acquired a new stake in PIMCO New York Municipal Income Fund II during the third quarter valued at $182,000. Wolverine Asset Management LLC lifted its holdings in shares of PIMCO New York Municipal Income Fund II by 122.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 65,307 shares of the company’s stock valued at $515,000 after buying an additional 35,993 shares during the last quarter. Beckerman Institutional LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II in the 3rd quarter valued at approximately $120,000. Palumbo Wealth Management LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II in the 3rd quarter valued at approximately $487,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in PIMCO New York Municipal Income Fund II by 4.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 211,829 shares of the company’s stock worth $1,671,000 after buying an additional 9,976 shares during the last quarter.

PIMCO New York Municipal Income Fund II Trading Up 0.4 %

PNI traded up $0.03 during trading on Friday, reaching $7.50. The company had a trading volume of 62,431 shares, compared to its average volume of 32,413. The firm’s 50-day simple moving average is $7.56 and its 200 day simple moving average is $7.51. PIMCO New York Municipal Income Fund II has a 12-month low of $7.07 and a 12-month high of $7.96.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a yield of 4.72%. The ex-dividend date is Tuesday, November 12th.

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.