Whitebox Advisors LLC Takes $2.66 Million Position in PIMCO New York Municipal Income Fund II $PNI

Whitebox Advisors LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II (NYSE:PNI) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 387,958 shares of the company’s stock, valued at approximately $2,658,000.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $1,061,000. Karpus Management Inc. lifted its stake in PIMCO New York Municipal Income Fund II by 23.8% in the fourth quarter. Karpus Management Inc. now owns 654,456 shares of the company’s stock worth $4,509,000 after acquiring an additional 125,959 shares during the last quarter. Lido Advisors LLC acquired a new position in PIMCO New York Municipal Income Fund II during the 1st quarter worth approximately $672,000. Beckerman Institutional LLC acquired a new position in PIMCO New York Municipal Income Fund II during the 1st quarter worth approximately $519,000. Finally, Cetera Investment Advisers acquired a new position in PIMCO New York Municipal Income Fund II during the 1st quarter worth approximately $333,000.

PIMCO New York Municipal Income Fund II Price Performance

Shares of NYSE:PNI opened at $6.85 on Monday. PIMCO New York Municipal Income Fund II has a 52 week low of $6.43 and a 52 week high of $7.20. The company’s 50 day moving average is $7.00 and its two-hundred day moving average is $7.00.

PIMCO New York Municipal Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be paid a dividend of $0.0295 per share. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

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.