Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Increases By 69.5%

PIMCO New York Municipal Income Fund II (NYSE:PNI – Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 31,163 shares, a growth of 69.5% from the July 30th total of 18,385 shares. Based on an average trading volume of 37,169 shares, the days-to-cover ratio is presently 0.8 days.

PIMCO New York Municipal Income Fund II Stock Down 0.7%

Shares of PIMCO New York Municipal Income Fund II stock opened at $6.76 on Wednesday. The firm’s 50 day moving average is $6.93 and its 200 day moving average is $6.97. PIMCO New York Municipal Income Fund II has a 1 year low of $6.55 and a 1 year high of $7.20.

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PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be paid a dividend of $0.0295 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 5.2%.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund II

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in PIMCO New York Municipal Income Fund II in the first quarter valued at $52,000. Beacon Pointe Advisors LLC bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth approximately $75,000. Envestnet Asset Management Inc. bought a new position in PIMCO New York Municipal Income Fund II during the 2nd quarter worth approximately $79,000. Baird Financial Group Inc. acquired a new position in shares of PIMCO New York Municipal Income Fund II in the 2nd quarter worth approximately $117,000. Finally, Riverbridge Partners LLC lifted its position in shares of PIMCO New York Municipal Income Fund II by 10.2% in the 1st quarter. Riverbridge Partners LLC now owns 223,261 shares of the company’s stock worth $1,529,000 after purchasing an additional 20,682 shares during the period.

About PIMCO New York Municipal Income Fund II

(Get Free Report)

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.

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