PIMCO New York Municipal Income Fund II (NYSE:PNI) Major Shareholder Of America Corp /De/ Bank Acquires 12,170 Shares of Company Stock

PIMCO New York Municipal Income Fund II (NYSE:PNI) major shareholder Of America Corp /De/ Bank purchased 12,170 shares of the business’s stock in a transaction on Wednesday, October 21st. The stock was acquired at an average price of $6.33 per share, with a total value of $77,036.10. Following the completion of the acquisition, the insider directly owned 12,170 shares in the company, valued at $77,036.10. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Of America Corp /De/ Bank also recently made the following trade(s):

• On Wednesday, October 21st, Of America Corp /De/ Bank sold 4,846 shares of PIMCO New York Municipal Income Fund II stock. The stock was sold at an average price of $6.27, for a total value of $30,384.42.

PIMCO New York Municipal Income Fund II Price Performance

Shares of PNI stock traded down $0.05 during mid-day trading on Friday, hitting $6.33. 56,317 shares of the company’s stock were exchanged, compared to its average volume of 63,973. PIMCO New York Municipal Income Fund II has a fifty-two week low of $5.96 and a fifty-two week high of $7.20. The stock has a 50-day simple moving average of $6.47 and a two-hundred day simple moving average of $6.80.

PIMCO New York Municipal Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be given a dividend of $0.0295 per share. The ex-dividend date is Tuesday, October 13th. This represents a $0.35 annualized dividend and a yield of 5.6%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rivernorth Capital Management LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the first quarter worth approximately $7,246,000. Almitas Capital LLC purchased a new stake in PIMCO New York Municipal Income Fund II in the second quarter valued at approximately $3,314,000. Saba Capital Management L.P. acquired a new position in PIMCO New York Municipal Income Fund II during the first quarter worth approximately $2,974,000. Robinson Capital Management LLC increased its position in PIMCO New York Municipal Income Fund II by 36.3% during the second quarter. Robinson Capital Management LLC now owns 389,726 shares of the company’s stock worth $2,763,000 after purchasing an additional 103,844 shares during the last quarter. Finally, Whitebox Advisors LLC acquired a new position in PIMCO New York Municipal Income Fund II during the first quarter worth approximately $2,658,000.

PIMCO New York Municipal Income Fund II Company Profile

PIMCO New York Municipal Income Fund II is a closed-end fund listed on the New York Stock Exchange under the symbol PNI. The fund seeks to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes.

The fund invests primarily in municipal bonds and other fixed-income securities issued by or on behalf of states, municipalities, and other public entities. Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt securities financing public services and infrastructure in New York and other municipal markets.

PNI is managed by PIMCO, an investment management firm specializing in fixed income.