PIMCO Municipal Income Fund (NYSE:PMF) Sees Large Growth in Short Interest

PIMCO Municipal Income Fund (NYSE:PMF) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 203,900 shares, a growth of 61.8% from the October 31st total of 126,000 shares. Based on an average daily trading volume, of 76,200 shares, the days-to-cover ratio is currently 2.7 days.

PIMCO Municipal Income Fund Trading Up 0.8 %

Shares of NYSE:PMF traded up $0.08 during midday trading on Friday, hitting $9.64. The company’s stock had a trading volume of 26,187 shares, compared to its average volume of 69,112. The stock’s 50 day simple moving average is $9.87 and its 200 day simple moving average is $9.53. PIMCO Municipal Income Fund has a fifty-two week low of $8.83 and a fifty-two week high of $10.50.

PIMCO Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.042 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Tuesday, November 12th.

Institutional Investors Weigh In On PIMCO Municipal Income Fund

Hedge funds have recently made changes to their positions in the stock. Kimelman & Baird LLC bought a new position in PIMCO Municipal Income Fund during the second quarter worth about $71,000. Fortitude Family Office LLC bought a new position in PIMCO Municipal Income Fund during the third quarter worth about $93,000. XTX Topco Ltd bought a new position in PIMCO Municipal Income Fund during the second quarter worth about $96,000. B. Riley Wealth Advisors Inc. lifted its stake in PIMCO Municipal Income Fund by 12.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 21,806 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 2,346 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of PIMCO Municipal Income Fund in the third quarter valued at approximately $211,000.

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.