PIMCO New York Municipal Income Fund II (NYSE:PNI) Shares Down 0.4% – Time to Sell?

PIMCO New York Municipal Income Fund II (NYSE:PNI)’s share price was down 0.4% during trading on Monday . The stock traded as low as $6.98 and last traded at $7.00. Approximately 88,951 shares were traded during mid-day trading, an increase of 87% from the average daily volume of 47,657 shares. The stock had previously closed at $7.03.

PIMCO New York Municipal Income Fund II Stock Performance

The company has a 50-day moving average of $6.94 and a two-hundred day moving average of $6.97.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.0295 per share. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Thursday, June 11th.

Institutional Investors Weigh In On PIMCO New York Municipal Income Fund II

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in PIMCO New York Municipal Income Fund II during the first quarter worth approximately $52,000. Envestnet Asset Management Inc. acquired a new stake in shares of PIMCO New York Municipal Income Fund II during the 2nd quarter worth $79,000. Baird Financial Group Inc. purchased a new position in shares of PIMCO New York Municipal Income Fund II in the 2nd quarter worth $117,000. Maltin Wealth Management Inc. purchased a new position in shares of PIMCO New York Municipal Income Fund II in the 1st quarter worth $150,000. Finally, Catalina Capital Group LLC acquired a new position in PIMCO New York Municipal Income Fund II in the first quarter valued at $180,000.

PIMCO New York Municipal Income Fund II Company Profile

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.