Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Decreases By 79.6%

PIMCO New York Municipal Income Fund II (NYSE:PNI – Get Rating) saw a large decrease in short interest in April. As of April 30th, there was short interest totalling 2,200 shares, a decrease of 79.6% from the April 15th total of 10,800 shares. Based on an average daily trading volume, of 24,800 shares, the days-to-cover ratio is currently 0.1 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of PIMCO New York Municipal Income Fund II by 25.5% during the 4th quarter. Wells Fargo & Company MN now owns 9,472 shares of the company’s stock worth $107,000 after purchasing an additional 1,923 shares during the period. Lindbrook Capital LLC purchased a new position in shares of PIMCO New York Municipal Income Fund II during the 4th quarter worth $37,000. Ackerman Capital Advisors LLC grew its holdings in shares of PIMCO New York Municipal Income Fund II by 31.2% during the 4th quarter. Ackerman Capital Advisors LLC now owns 16,960 shares of the company’s stock worth $192,000 after purchasing an additional 4,036 shares during the period. Morgan Stanley grew its holdings in shares of PIMCO New York Municipal Income Fund II by 9.8% during the 3rd quarter. Morgan Stanley now owns 46,659 shares of the company’s stock worth $542,000 after purchasing an additional 4,150 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of PIMCO New York Municipal Income Fund II by 58.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 18,755 shares of the company’s stock worth $178,000 after purchasing an additional 6,950 shares during the period.

Shares of NYSE:PNI opened at $8.70 on Friday. The business has a fifty day moving average of $9.23 and a two-hundred day moving average of $10.36. PIMCO New York Municipal Income Fund II has a 52-week low of $8.51 and a 52-week high of $12.19.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Thursday, May 12th will be issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Wednesday, May 11th.

PIMCO New York Municipal Income Fund II Company Profile (Get Rating)

PIMCO New York Municipal Income Fund II is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in municipal bonds that pay interest that is exempt from federal, New York State, and New York City income tax.

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