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

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 28,670 shares, a decline of 56.7% from the June 15th total of 66,143 shares. Based on an average daily volume of 73,131 shares, the short-interest ratio is presently 0.4 days.

PIMCO New York Municipal Income Fund II Trading Down 0.3%

NYSE:PNI traded down $0.02 during trading hours on Thursday, reaching $7.01. The company’s stock had a trading volume of 41,918 shares, compared to its average volume of 53,642. PIMCO New York Municipal Income Fund II has a one year low of $6.43 and a one year high of $7.20. The business’s 50-day moving average is $7.01 and its 200-day moving average is $6.99.

PIMCO New York Municipal Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be paid a dividend of $0.0295 per share. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Monday, July 13th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Noble Wealth Management PBC acquired a new stake in PIMCO New York Municipal Income Fund II in the 2nd quarter worth approximately $157,000. Bank of America Corp DE bought a new position in shares of PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $613,000. Rivernorth Capital Management LLC bought a new position in shares of PIMCO New York Municipal Income Fund II in the first quarter valued at approximately $7,246,000. Saba Capital Management L.P. acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the first quarter worth $2,974,000. Finally, Whitebox Advisors LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the first quarter worth $2,658,000.

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.