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

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 73,080 shares, a growth of 872.1% from the February 12th total of 7,518 shares. Based on an average trading volume of 41,801 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 41,801 shares, the days-to-cover ratio is presently 1.7 days.

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

A number of institutional investors have recently added to or reduced their stakes in PNI. Envestnet Asset Management Inc. acquired a new stake in PIMCO New York Municipal Income Fund II during the second quarter worth about $79,000. Guggenheim Capital LLC lifted its position in shares of PIMCO New York Municipal Income Fund II by 10.3% in the 2nd quarter. Guggenheim Capital LLC now owns 246,809 shares of the company’s stock worth $1,659,000 after acquiring an additional 23,036 shares during the period. Baird Financial Group Inc. bought a new stake in shares of PIMCO New York Municipal Income Fund II in the 2nd quarter worth approximately $117,000. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of PIMCO New York Municipal Income Fund II during the 2nd quarter worth approximately $325,000. Finally, Whitebox Advisors LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II during the second quarter valued at approximately $310,000.

PIMCO New York Municipal Income Fund II Price Performance

NYSE:PNI traded up $0.04 during trading hours on Tuesday, hitting $7.01. 35,813 shares of the company traded hands, compared to its average volume of 56,042. PIMCO New York Municipal Income Fund II has a twelve month low of $6.43 and a twelve month high of $7.35. The firm has a 50-day moving average of $7.03 and a 200 day moving average of $6.95.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.0295 per share. The ex-dividend date is Thursday, March 12th. This represents a c) annualized dividend and a dividend 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.