PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Down 49.9% in May

PIMCO New York Municipal Income Fund II (NYSE:PNI) saw a large decrease in short interest in May. As of May 29th, there was short interest totaling 12,939 shares, a decrease of 49.9% from the May 14th total of 25,809 shares. Based on an average daily volume of 46,990 shares, the short-interest ratio is currently 0.3 days.

PIMCO New York Municipal Income Fund II Stock Performance

Shares of PNI traded up $0.02 during trading on Friday, reaching $7.03. The company’s stock had a trading volume of 20,741 shares, compared to its average volume of 47,416. PIMCO New York Municipal Income Fund II has a twelve month low of $6.43 and a twelve month high of $7.20. The company has a fifty day moving average of $6.98 and a two-hundred day moving average of $6.97.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 11th will be given a $0.0295 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) annualized dividend and a yield of 5.0%.

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

Large investors have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC acquired a new stake in PIMCO New York Municipal Income Fund II in the first quarter worth $7,246,000. Saba Capital Management L.P. bought a new position in shares of PIMCO New York Municipal Income Fund II in the first quarter worth $2,974,000. Whitebox Advisors LLC bought a new position in shares of PIMCO New York Municipal Income Fund II in the first quarter worth $2,658,000. Lido Advisors LLC bought a new position in shares of PIMCO New York Municipal Income Fund II in the first quarter worth $672,000. Finally, Cetera Investment Advisers bought a new position in shares of PIMCO New York Municipal Income Fund II in the first quarter worth $333,000.

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.