PIMCO Municipal Income Fund (NYSE:PMF) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

PIMCO Municipal Income Fund (NYSE:PMF) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.46 and traded as low as $9.20. PIMCO Municipal Income Fund shares last traded at $9.21, with a volume of 41,801 shares changing hands.

PIMCO Municipal Income Fund Stock Performance

The business has a 50-day moving average price of $9.00 and a 200 day moving average price of $9.46.

PIMCO Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be given a dividend of $0.042 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date is Thursday, February 13th.

Insider Activity

In other news, major shareholder Of America Corp /De/ Bank purchased 24,110 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $9.02 per share, for a total transaction of $217,472.20. Following the completion of the acquisition, the insider now directly owns 24,110 shares of the company’s stock, valued at $217,472.20. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On PIMCO Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMF. Hennion & Walsh Asset Management Inc. raised its stake in PIMCO Municipal Income Fund by 1,317.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 289,904 shares of the financial services provider’s stock valued at $2,603,000 after purchasing an additional 269,453 shares during the period. Guggenheim Capital LLC grew its holdings in shares of PIMCO Municipal Income Fund by 77.1% during the fourth quarter. Guggenheim Capital LLC now owns 556,410 shares of the financial services provider’s stock valued at $4,997,000 after buying an additional 242,308 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in PIMCO Municipal Income Fund during the fourth quarter valued at $509,000. Avantax Advisory Services Inc. lifted its stake in PIMCO Municipal Income Fund by 26.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 253,762 shares of the financial services provider’s stock worth $2,279,000 after acquiring an additional 52,593 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in PIMCO Municipal Income Fund by 13.5% during the 4th quarter. Captrust Financial Advisors now owns 264,584 shares of the financial services provider’s stock worth $2,376,000 after acquiring an additional 31,456 shares during the period.

About PIMCO Municipal Income Fund

PIMCO Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.