Short Interest in PIMCO Municipal Income Fund II (NYSE:PML) Grows By 25.3%

PIMCO Municipal Income Fund II (NYSE:PML – Get Rating) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 155,100 shares, a growth of 25.3% from the April 30th total of 123,800 shares. Based on an average daily volume of 227,000 shares, the days-to-cover ratio is currently 0.7 days.

Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC bought a new stake in PIMCO Municipal Income Fund II in the 4th quarter worth approximately $8,176,000. Claybrook Capital LLC bought a new stake in PIMCO Municipal Income Fund II in the 3rd quarter worth approximately $3,957,000. Citadel Advisors LLC bought a new stake in PIMCO Municipal Income Fund II in the 4th quarter worth approximately $1,152,000. UBS Group AG lifted its position in PIMCO Municipal Income Fund II by 12.8% in the 3rd quarter. UBS Group AG now owns 553,501 shares of the investment management company’s stock worth $8,159,000 after buying an additional 62,605 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in PIMCO Municipal Income Fund II by 22.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 287,583 shares of the investment management company’s stock worth $4,202,000 after buying an additional 52,120 shares during the last quarter.

Shares of NYSE PML opened at $11.58 on Wednesday. PIMCO Municipal Income Fund II has a 12 month low of $10.15 and a 12 month high of $15.33. The business has a 50-day moving average of $10.96 and a 200-day moving average of $12.79.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Thursday, May 12th will be issued a dividend of $0.059 per share. This represents a $0.71 annualized dividend and a dividend yield of 6.11%. The ex-dividend date is Wednesday, May 11th.

About PIMCO Municipal Income Fund II (Get Rating)

PIMCO Municipal Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in fixed income markets. The fund invests in stocks of companies operating across diversified sectors.

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