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

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 35,244 shares, a growth of 169.3% from the October 15th total of 13,087 shares. Based on an average daily volume of 89,617 shares, the short-interest ratio is presently 0.4 days.

Insiders Place Their Bets

In other PIMCO New York Municipal Income Fund II news, major shareholder Of America Corp /De/ Bank purchased 12,170 shares of PIMCO New York Municipal Income Fund II stock in a transaction on Wednesday, October 21st. The shares were purchased at an average cost of $6.33 per share, with a total value of $77,036.10. Following the completion of the transaction, the insider directly owned 12,170 shares in the company, valued at approximately $77,036.10. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

A number of hedge funds have recently bought and sold shares of PNI. Rivernorth Capital Management LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the 1st quarter valued at about $7,246,000. Almitas Capital LLC bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth approximately $3,314,000. Saba Capital Management L.P. bought a new position in PIMCO New York Municipal Income Fund II during the 1st quarter worth approximately $2,974,000. Robinson Capital Management LLC grew its position in shares of PIMCO New York Municipal Income Fund II by 36.3% in the 2nd quarter. Robinson Capital Management LLC now owns 389,726 shares of the company’s stock worth $2,763,000 after acquiring an additional 103,844 shares in the last quarter. Finally, Whitebox Advisors LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II in the 1st quarter worth approximately $2,658,000.

PIMCO New York Municipal Income Fund II Stock Down 1.6%

PIMCO New York Municipal Income Fund II stock opened at $6.47 on Friday. The firm’s fifty day moving average price is $6.38 and its 200 day moving average price is $6.82. PIMCO New York Municipal Income Fund II has a 12-month low of $5.96 and a 12-month high of $7.20.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a $0.0295 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.35 annualized dividend and a dividend yield of 5.5%.

About PIMCO New York Municipal Income Fund II

PIMCO New York Municipal Income Fund II is a closed-end investment company listed on the New York Stock Exchange under the symbol PNI. The fund seeks to provide current income that is exempt from regular federal income tax and New York State and New York City income taxes, subject to applicable tax rules. The fund invests primarily in municipal bonds and other municipal securities issued by or on behalf of New York State, New York City, and related public authorities and governmental entities. Its portfolio may include securities financing public infrastructure and essential services, such as transportation, education, utilities, health care, and housing.