PIMCO New York Municipal Income Fund II (NYSE:PNI) Sees Significant Drop in Short Interest

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 20,189 shares, a drop of 34.8% from the March 31st total of 30,966 shares. Based on an average daily trading volume, of 34,065 shares, the short-interest ratio is currently 0.6 days.

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. Geneos Wealth Management Inc. purchased a new stake in PIMCO New York Municipal Income Fund II in the 3rd quarter valued at about $68,000. Envestnet Asset Management Inc. bought a new position in shares of PIMCO New York Municipal Income Fund II during the 2nd quarter valued at approximately $79,000. Baird Financial Group Inc. bought a new position in shares of PIMCO New York Municipal Income Fund II during the 2nd quarter valued at approximately $117,000. Maltin Wealth Management Inc. bought a new position in shares of PIMCO New York Municipal Income Fund II during the 1st quarter valued at approximately $150,000. Finally, Catalina Capital Group LLC bought a new position in shares of PIMCO New York Municipal Income Fund II during the 1st quarter valued at approximately $180,000.

PIMCO New York Municipal Income Fund II Trading Up 0.6%

NYSE:PNI traded up $0.04 on Thursday, hitting $6.99. The stock had a trading volume of 13,144 shares, compared to its average volume of 49,155. PIMCO New York Municipal Income Fund II has a 1 year low of $6.43 and a 1 year high of $7.20. The firm’s fifty day simple moving average is $6.96 and its two-hundred day simple moving average is $6.97.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Monday, April 13th will be paid a $0.0295 dividend. The ex-dividend date is Monday, April 13th. This represents a c) annualized dividend and a yield of 5.1%.

About PIMCO New York Municipal Income Fund II

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.