PIMCO New York Municipal Income Fund II (NYSE:PNI) Sees Large Decrease in Short Interest

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 28,670 shares, a drop of 56.7% from the June 15th total of 66,143 shares. Based on an average daily volume of 73,131 shares, the short-interest ratio is currently 0.4 days.

PIMCO New York Municipal Income Fund II Price Performance

PIMCO New York Municipal Income Fund II stock traded up $0.02 during trading hours on Tuesday, hitting $7.02. 57,574 shares of the stock were exchanged, compared to its average volume of 53,160. The business’s 50-day moving average is $7.01 and its two-hundred day moving average is $6.99. PIMCO New York Municipal Income Fund II has a 12 month low of $6.43 and a 12 month high of $7.20.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.0295 per share. The ex-dividend date is Monday, July 13th. This represents a c) annualized dividend and a yield of 5.0%.

Institutional Investors Weigh In On PIMCO New York Municipal Income Fund II

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of PIMCO New York Municipal Income Fund II in the first quarter worth about $52,000. Envestnet Asset Management Inc. acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the second quarter valued at approximately $79,000. Baird Financial Group Inc. acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the second quarter valued at approximately $117,000. Riverbridge Partners LLC raised its position in PIMCO New York Municipal Income Fund II by 10.2% in the 1st quarter. Riverbridge Partners LLC now owns 223,261 shares of the company’s stock worth $1,529,000 after purchasing an additional 20,682 shares during the last quarter. Finally, Maltin Wealth Management Inc. bought a new position in PIMCO New York Municipal Income Fund II in the 1st quarter worth approximately $150,000.

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.