PIMCO New York Municipal Income Fund (NYSE:PNF) Sees Large Increase in Short Interest

PIMCO New York Municipal Income Fund (NYSE:PNF) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 7,300 shares, a growth of 58.7% from the January 31st total of 4,600 shares. Based on an average trading volume of 36,000 shares, the days-to-cover ratio is currently 0.2 days.

PIMCO New York Municipal Income Fund Stock Up 0.1 %

Shares of NYSE:PNF traded up $0.01 during trading hours on Monday, hitting $7.78. 9,576 shares of the company’s stock traded hands, compared to its average volume of 25,849. PIMCO New York Municipal Income Fund has a 1 year low of $7.29 and a 1 year high of $8.39. The business has a fifty day moving average price of $7.58 and a 200-day moving average price of $7.88.

PIMCO New York Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be given a dividend of $0.0335 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.40 annualized dividend and a dividend yield of 5.17%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PNF. International Assets Investment Management LLC boosted its holdings in shares of PIMCO New York Municipal Income Fund by 730.0% in the third quarter. International Assets Investment Management LLC now owns 116,632 shares of the company’s stock valued at $968,000 after purchasing an additional 102,580 shares during the period. Wolverine Asset Management LLC lifted its holdings in PIMCO New York Municipal Income Fund by 22.8% during the third quarter. Wolverine Asset Management LLC now owns 34,313 shares of the company’s stock worth $285,000 after buying an additional 6,373 shares during the period. Horizon Kinetics Asset Management LLC lifted its holdings in PIMCO New York Municipal Income Fund by 71.6% during the third quarter. Horizon Kinetics Asset Management LLC now owns 58,956 shares of the company’s stock worth $489,000 after buying an additional 24,599 shares during the period. Virtu Financial LLC purchased a new stake in PIMCO New York Municipal Income Fund during the fourth quarter worth $99,000. Finally, Sit Investment Associates Inc. purchased a new stake in PIMCO New York Municipal Income Fund during the fourth quarter worth $676,000.

About PIMCO New York Municipal Income Fund

PIMCO New York 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 fixed income markets. It seeks to invest in stocks of companies operating across diversified sectors.