PIMCO New York Municipal Income Fund II (NYSE:PNI) Trading Down 1.5% – What’s Next?

PIMCO New York Municipal Income Fund II (NYSE:PNI) fell 1.5% on Wednesday . The stock traded as low as $7.44 and last traded at $7.46. 61,119 shares changed hands during trading, an increase of 106% from the average session volume of 29,677 shares. The stock had previously closed at $7.57.

PIMCO New York Municipal Income Fund II Stock Performance

The company’s 50-day moving average price is $7.69 and its 200 day moving average price is $7.48.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.35 annualized dividend and a yield of 4.75%.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC lifted its position in shares of PIMCO New York Municipal Income Fund II by 365.4% in the second quarter. Wolverine Asset Management LLC now owns 29,314 shares of the company’s stock valued at $217,000 after acquiring an additional 23,015 shares in the last quarter. Logan Stone Capital LLC raised its stake in PIMCO New York Municipal Income Fund II by 11.7% during the 2nd quarter. Logan Stone Capital LLC now owns 82,576 shares of the company’s stock valued at $612,000 after purchasing an additional 8,651 shares during the period. Matisse Capital lifted its holdings in PIMCO New York Municipal Income Fund II by 29.2% in the 2nd quarter. Matisse Capital now owns 128,524 shares of the company’s stock worth $952,000 after purchasing an additional 29,017 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in PIMCO New York Municipal Income Fund II by 10.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 198,422 shares of the company’s stock worth $1,472,000 after purchasing an additional 18,968 shares during the period.

About PIMCO New York Municipal Income Fund II

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.