Insider Buying: PIMCO Municipal Income Fund II (NYSE:PML) Director Purchases 2,819 Shares of Stock

PIMCO Municipal Income Fund II (NYSE:PML) Director Alan Rappaport acquired 2,819 shares of PIMCO Municipal Income Fund II stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average cost of $7.66 per share, for a total transaction of $21,593.54. Following the completion of the purchase, the director directly owned 8,001 shares of the company’s stock, valued at $61,287.66. This represents a 54.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PIMCO Municipal Income Fund II Stock Down 0.2%

NYSE PML traded down $0.02 during trading on Wednesday, hitting $7.64. 489,091 shares of the company’s stock were exchanged, compared to its average volume of 320,943. PIMCO Municipal Income Fund II has a fifty-two week low of $7.10 and a fifty-two week high of $8.80. The stock’s 50 day moving average price is $7.84 and its two-hundred day moving average price is $7.54.

PIMCO Municipal Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 11th will be issued a dividend of $0.0395 per share. The ex-dividend date of this dividend is Thursday, December 11th. This represents a c) annualized dividend and a dividend yield of 6.2%.

Hedge Funds Weigh In On PIMCO Municipal Income Fund II

Several institutional investors and hedge funds have recently added to or reduced their stakes in PML. Integrated Capital Management Inc. lifted its stake in shares of PIMCO Municipal Income Fund II by 34.9% in the 2nd quarter. Integrated Capital Management Inc. now owns 46,356 shares of the investment management company’s stock valued at $345,000 after acquiring an additional 11,988 shares during the last quarter. Cove Private Wealth LLC increased its holdings in PIMCO Municipal Income Fund II by 305.5% in the 2nd quarter. Cove Private Wealth LLC now owns 148,389 shares of the investment management company’s stock worth $1,105,000 after purchasing an additional 111,798 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in PIMCO Municipal Income Fund II by 39.3% in the 2nd quarter. Koshinski Asset Management Inc. now owns 141,875 shares of the investment management company’s stock worth $1,057,000 after purchasing an additional 40,000 shares in the last quarter. Wolverine Asset Management LLC bought a new position in PIMCO Municipal Income Fund II in the second quarter valued at about $519,000. Finally, Ellis Investment Partners LLC boosted its stake in shares of PIMCO Municipal Income Fund II by 4.6% during the second quarter. Ellis Investment Partners LLC now owns 372,497 shares of the investment management company’s stock valued at $2,775,000 after purchasing an additional 16,402 shares in the last quarter.

About PIMCO Municipal Income Fund II

PIMCO Municipal Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in fixed income markets. The fund invests in stocks of companies operating across diversified sectors.