PIMCO Municipal Income Fund II (NYSE:PML – Get Free Report) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 205,183 shares, a growth of 125.9% from the July 30th total of 90,842 shares. Based on an average daily trading volume, of 358,168 shares, the days-to-cover ratio is presently 0.6 days.
PIMCO Municipal Income Fund II Stock Down 0.4%
PML stock traded down $0.03 during mid-day trading on Friday, reaching $7.32. The company’s stock had a trading volume of 292,277 shares, compared to its average volume of 401,903. PIMCO Municipal Income Fund II has a fifty-two week low of $7.18 and a fifty-two week high of $8.01. The company’s 50 day moving average is $7.44 and its two-hundred day moving average is $7.53.
PIMCO Municipal Income Fund II Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be issued a $0.0395 dividend. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, August 13th.
Insider Activity
Hedge Funds Weigh In On PIMCO Municipal Income Fund II
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PML. Rivernorth Capital Management LLC increased its stake in shares of PIMCO Municipal Income Fund II by 5.4% in the 2nd quarter. Rivernorth Capital Management LLC now owns 4,482,914 shares of the investment management company’s stock worth $34,115,000 after acquiring an additional 231,386 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of PIMCO Municipal Income Fund II by 7.5% in the fourth quarter. Guggenheim Capital LLC now owns 2,338,947 shares of the investment management company’s stock valued at $17,636,000 after purchasing an additional 163,926 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of PIMCO Municipal Income Fund II in the first quarter valued at about $8,240,000. Bank of America Corp DE acquired a new stake in PIMCO Municipal Income Fund II during the second quarter worth about $8,244,000. Finally, Wagner Wealth Management LLC increased its position in PIMCO Municipal Income Fund II by 11.2% during the first quarter. Wagner Wealth Management LLC now owns 1,082,412 shares of the investment management company’s stock worth $8,194,000 after purchasing an additional 108,907 shares during the last quarter.
About PIMCO Municipal Income Fund II
PIMCO Municipal Income Fund II (NYSE: PML) is a closed-end management investment company that seeks to provide a high level of current income exempt from federal income tax. The fund primarily invests in a diversified portfolio of municipal securities, including both investment-grade and below-investment-grade bonds issued by state and local governments, as well as other public entities. By focusing on the municipal market, the fund aims to offer tax-advantaged income to investors, particularly those in higher federal tax brackets.
The fund’s portfolio construction emphasizes rigorous credit analysis, sector diversification, and maturity management to balance income objectives with risk controls.
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