PIMCO New York Municipal Income Fund II (NYSE:PNI) Stock Price Down 0.3% – Time to Sell?

PIMCO New York Municipal Income Fund II (NYSE:PNI) dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $6.86 and last traded at $6.89. Approximately 100,101 shares traded hands during trading, an increase of 75% from the average daily volume of 57,256 shares. The stock had previously closed at $6.91.

PIMCO New York Municipal Income Fund II Trading Down 0.3%

The company has a 50-day simple moving average of $6.95 and a two-hundred day simple moving average of $6.79.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 11th will be paid a $0.0295 dividend. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Thursday, December 11th.

Institutional Trading of PIMCO New York Municipal Income Fund II

A number of hedge funds have recently modified their holdings of PNI. Riverbridge Partners LLC increased its stake in shares of PIMCO New York Municipal Income Fund II by 3.9% in the 2nd quarter. Riverbridge Partners LLC now owns 112,371 shares of the company’s stock worth $755,000 after acquiring an additional 4,268 shares in the last quarter. Matisse Capital lifted its holdings in shares of PIMCO New York Municipal Income Fund II by 3.1% during the second quarter. Matisse Capital now owns 257,835 shares of the company’s stock valued at $1,733,000 after purchasing an additional 7,835 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of PIMCO New York Municipal Income Fund II in the 3rd quarter worth approximately $68,000. Landscape Capital Management L.L.C. purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the 1st quarter worth approximately $79,000. Finally, Envestnet Asset Management Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at approximately $79,000.

PIMCO New York Municipal Income Fund II Company Profile

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.