Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Drops By 35.0%

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 15,800 shares, a drop of 35.0% from the September 30th total of 24,300 shares. Based on an average trading volume of 45,100 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PNI. Wolverine Asset Management LLC lifted its stake 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 purchasing an additional 23,015 shares during the period. Logan Stone Capital LLC lifted its position in shares of PIMCO New York Municipal Income Fund II by 11.7% in the second quarter. Logan Stone Capital LLC now owns 82,576 shares of the company’s stock valued at $612,000 after acquiring an additional 8,651 shares in the last quarter. 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 valued at $952,000 after purchasing an additional 29,017 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of PIMCO New York Municipal Income Fund II by 10.6% during the first 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 last quarter.

PIMCO New York Municipal Income Fund II Price Performance

PIMCO New York Municipal Income Fund II stock traded up $0.03 during mid-day trading on Friday, reaching $7.44. 26,181 shares of the company’s stock were exchanged, compared to its average volume of 29,711. PIMCO New York Municipal Income Fund II has a twelve month low of $6.03 and a twelve month high of $7.96. The company has a fifty day moving average of $7.68 and a 200-day moving average of $7.48.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be given a $0.0295 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.35 dividend on an annualized basis and a yield of 4.76%.

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.