PIMCO Municipal Income Fund (NYSE:PMF) Shares Cross Below 200-Day Moving Average – Time to Sell?

PIMCO Municipal Income Fund (NYSE:PMF)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.99 and traded as low as $8.11. PIMCO Municipal Income Fund shares last traded at $8.14, with a volume of 61,419 shares changing hands.

PIMCO Municipal Income Fund Stock Down 0.5%

The firm has a fifty day moving average of $8.43 and a 200-day moving average of $8.98.

PIMCO Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be paid a $0.042 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.50 dividend on an annualized basis and a yield of 6.19%.

Insider Buying and Selling at PIMCO Municipal Income Fund

In related news, major shareholder Of America Corp /De/ Bank bought 24,110 shares of PIMCO Municipal Income Fund stock in a transaction on Friday, February 21st. The shares were purchased 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 owns 24,110 shares in the company, valued at approximately $217,472.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have acquired 25,505 shares of company stock valued at $230,140.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. bought a new position in PIMCO Municipal Income Fund during the 1st quarter worth approximately $30,000. Elequin Capital LP bought a new position in shares of PIMCO Municipal Income Fund during the fourth quarter worth $31,000. Citadel Advisors LLC bought a new position in shares of PIMCO Municipal Income Fund during the fourth quarter worth $99,000. Alpha Cubed Investments LLC bought a new position in PIMCO Municipal Income Fund during the first quarter worth about $122,000. Finally, Raymond James Financial Inc. bought a new position in PIMCO Municipal Income Fund during the fourth quarter worth about $185,000.

PIMCO Municipal Income Fund Company Profile

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.