Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Drops By 64.3%

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 4,159 shares, a decrease of 64.3% from the January 15th total of 11,637 shares. Based on an average daily volume of 50,508 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 50,508 shares, the days-to-cover ratio is currently 0.1 days.

PIMCO New York Municipal Income Fund II Price Performance

Shares of PIMCO New York Municipal Income Fund II stock opened at $7.12 on Wednesday. PIMCO New York Municipal Income Fund II has a 1 year low of $6.43 and a 1 year high of $7.47. The company’s fifty day moving average is $6.95 and its two-hundred day moving average is $6.87.

PIMCO New York Municipal Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 12th will be issued a dividend of $0.0295 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%.

Institutional Trading of PIMCO New York Municipal Income Fund II

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new stake in PIMCO New York Municipal Income Fund II in the third quarter valued at $68,000. Envestnet Asset Management Inc. purchased a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter valued at about $79,000. Dopkins Wealth Management LLC increased its stake in shares of PIMCO New York Municipal Income Fund II by 83.8% during the 3rd quarter. Dopkins Wealth Management LLC now owns 28,646 shares of the company’s stock worth $199,000 after purchasing an additional 13,061 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of PIMCO New York Municipal Income Fund II in the second quarter worth $108,000. Finally, Baird Financial Group Inc. acquired a new position in PIMCO New York Municipal Income Fund II in the 2nd quarter valued at about $117,000.

About PIMCO New York Municipal Income Fund II

PIMCO New York Municipal Income Fund II (NYSE: PNI) is a closed-end management investment company that seeks to provide a high level of current income exempt from both federal and New York State income taxes. The fund is managed by Pacific Investment Management Company LLC (PIMCO), a global fixed income investment firm. PNI invests primarily in investment-grade municipal obligations issued by or on behalf of the state of New York, its municipalities and related public authorities.

The fund’s portfolio is constructed with a focus on New York state general obligation and revenue bonds, including transportation, education, healthcare and utility-backed securities.