PIMCO New York Municipal Income Fund II (NYSE:PNI) Trading Down 0.3% – Should You Sell?

PIMCO New York Municipal Income Fund II (NYSE:PNI)’s share price fell 0.3% on Tuesday . The stock traded as low as $6.86 and last traded at $6.89. 100,101 shares changed hands during mid-day trading, an increase of 75% from the average session volume of 57,256 shares. The stock had previously closed at $6.91.

PIMCO New York Municipal Income Fund II Stock Performance

The stock has a 50 day moving average price of $6.95 and a 200-day moving average price of $6.79.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 11th will be paid a $0.0295 dividend. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Thursday, December 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in PIMCO New York Municipal Income Fund II during the 3rd quarter valued at $68,000. Landscape Capital Management L.L.C. bought a new position in shares of PIMCO New York Municipal Income Fund II during the first quarter valued at about $79,000. Envestnet Asset Management Inc. bought a new stake in shares of PIMCO New York Municipal Income Fund II in the second quarter worth about $79,000. Catalina Capital Group LLC purchased a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at about $100,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at approximately $108,000.

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.