PIMCO Municipal Income Fund (NYSE:PMF) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of PIMCO Municipal Income Fund (NYSE:PMF) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.21 and traded as low as $7.91. PIMCO Municipal Income Fund shares last traded at $8.04, with a volume of 94,692 shares.

PIMCO Municipal Income Fund Stock Up 1.1 %

The business has a fifty day simple moving average of $8.80 and a 200-day simple moving average of $9.21.

PIMCO Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.042 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.50 dividend on an annualized basis and a yield of 6.27%.

Insider Buying and Selling

In related news, major shareholder Of America Corp /De/ Bank acquired 24,110 shares of the stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $9.02 per share, for a total transaction of $217,472.20. Following the completion of the purchase, the insider now owns 24,110 shares of the company’s stock, valued at $217,472.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 25,505 shares of company stock valued at $230,140 over the last quarter.

Institutional Investors Weigh In On PIMCO Municipal Income Fund

A number of institutional investors have recently modified their holdings of PMF. Hennion & Walsh Asset Management Inc. boosted its stake in PIMCO Municipal Income Fund by 1,317.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 289,904 shares of the financial services provider’s stock worth $2,603,000 after purchasing an additional 269,453 shares in the last quarter. Guggenheim Capital LLC raised its holdings in PIMCO Municipal Income Fund by 77.1% in the 4th quarter. Guggenheim Capital LLC now owns 556,410 shares of the financial services provider’s stock worth $4,997,000 after acquiring an additional 242,308 shares during the last quarter. Whipplewood Advisors LLC bought a new position in PIMCO Municipal Income Fund in the 4th quarter valued at approximately $509,000. Avantax Advisory Services Inc. lifted its position in PIMCO Municipal Income Fund by 26.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 253,762 shares of the financial services provider’s stock valued at $2,279,000 after acquiring an additional 52,593 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in PIMCO Municipal Income Fund by 13.5% during the 4th quarter. Captrust Financial Advisors now owns 264,584 shares of the financial services provider’s stock valued at $2,376,000 after purchasing an additional 31,456 shares during the last quarter.

PIMCO Municipal Income Fund Company Profile

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