PIMCO New York Municipal Income Fund (NYSE:PNF) Sees Large Drop in Short Interest

PIMCO New York Municipal Income Fund (NYSE:PNF) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 4,400 shares, a decrease of 43.6% from the December 31st total of 7,800 shares. Based on an average daily volume of 35,300 shares, the days-to-cover ratio is currently 0.1 days.

PIMCO New York Municipal Income Fund Price Performance

Shares of PNF traded up $0.02 during mid-day trading on Friday, hitting $7.60. 16,517 shares of the company’s stock were exchanged, compared to its average volume of 22,221. PIMCO New York Municipal Income Fund has a fifty-two week low of $7.29 and a fifty-two week high of $8.40. The business’s 50 day moving average is $7.62 and its two-hundred day moving average is $7.90.

PIMCO New York Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a $0.0335 dividend. The ex-dividend date is Monday, January 13th. This represents a $0.40 annualized dividend and a dividend yield of 5.29%.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in shares of PIMCO New York Municipal Income Fund by 730.0% during the 3rd quarter. International Assets Investment Management LLC now owns 116,632 shares of the company’s stock worth $968,000 after buying an additional 102,580 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in PIMCO New York Municipal Income Fund by 69.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,401 shares of the company’s stock worth $734,000 after acquiring an additional 36,079 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in PIMCO New York Municipal Income Fund by 71.6% in the third quarter. Horizon Kinetics Asset Management LLC now owns 58,956 shares of the company’s stock worth $489,000 after acquiring an additional 24,599 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of PIMCO New York Municipal Income Fund by 22.8% during the 3rd quarter. Wolverine Asset Management LLC now owns 34,313 shares of the company’s stock worth $285,000 after purchasing an additional 6,373 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in shares of PIMCO New York Municipal Income Fund during the 3rd quarter worth $102,000.

About PIMCO New York Municipal Income Fund

PIMCO New York Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets. It seeks to invest in stocks of companies operating across diversified sectors.