Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Increases By 266.3%

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 30,400 shares, an increase of 266.3% from the February 13th total of 8,300 shares. Based on an average daily volume of 61,400 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC grew its position in shares of PIMCO New York Municipal Income Fund II by 122.8% during the third quarter. Wolverine Asset Management LLC now owns 65,307 shares of the company’s stock worth $515,000 after acquiring an additional 35,993 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II in the fourth quarter valued at about $39,000. Riverbridge Partners LLC acquired a new stake in shares of PIMCO New York Municipal Income Fund II during the 4th quarter valued at approximately $708,000. Morse Asset Management Inc purchased a new stake in PIMCO New York Municipal Income Fund II during the third quarter worth $182,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the 4th quarter worth about $446,000.

PIMCO New York Municipal Income Fund II Stock Performance

Shares of PNI stock opened at $7.16 on Friday. The firm’s 50 day moving average price is $7.26 and its 200-day moving average price is $7.43. PIMCO New York Municipal Income Fund II has a one year low of $6.96 and a one year high of $7.96.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a $0.0295 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.35 dividend on an annualized basis and a yield of 4.94%.

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.