PIMCO New York Municipal Income Fund II (NYSE:PNI) Trading Down 0.1%

PIMCO New York Municipal Income Fund II (NYSE:PNI)’s stock price dropped 0.1% during mid-day trading on Thursday . The stock traded as low as $7.41 and last traded at $7.42. Approximately 12,298 shares were traded during trading, a decline of 47% from the average daily volume of 23,307 shares. The stock had previously closed at $7.43.

PIMCO New York Municipal Income Fund II Trading Down 0.1 %

The firm has a 50-day simple moving average of $7.50 and a 200-day simple moving average of $7.11.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be given a dividend of $0.0295 per share. The ex-dividend date is Friday, March 8th. This represents a $0.35 annualized dividend and a dividend yield of 4.77%.

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

A number of institutional investors and hedge funds have recently made changes to their positions in PNI. Rivernorth Capital Management LLC purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the first quarter worth $1,117,000. Guggenheim Capital LLC raised its position in shares of PIMCO New York Municipal Income Fund II by 7.2% in the first quarter. Guggenheim Capital LLC now owns 229,834 shares of the company’s stock worth $2,184,000 after buying an additional 15,339 shares in the last quarter. UBS Group AG raised its position in shares of PIMCO New York Municipal Income Fund II by 70.4% in the fourth quarter. UBS Group AG now owns 113,788 shares of the company’s stock worth $905,000 after buying an additional 46,997 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of PIMCO New York Municipal Income Fund II by 40.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 20,984 shares of the company’s stock worth $167,000 after buying an additional 6,031 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in PIMCO New York Municipal Income Fund II by 1,307.8% in the fourth quarter. Bank of America Corp DE now owns 22,524 shares of the company’s stock valued at $179,000 after acquiring an additional 20,924 shares during the last quarter.

About PIMCO New York Municipal Income Fund II

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.