PIMCO New York Municipal Income Fund II (NYSE:PNI) Short Interest Up 605.9% in November

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 12,000 shares, an increase of 605.9% from the October 31st total of 1,700 shares. Based on an average daily trading volume, of 45,300 shares, the days-to-cover ratio is currently 0.3 days.

PIMCO New York Municipal Income Fund II Stock Performance

PNI traded up $0.03 during trading on Friday, hitting $7.50. 62,431 shares of the company’s stock traded hands, compared to its average volume of 32,413. PIMCO New York Municipal Income Fund II has a 12-month low of $7.07 and a 12-month high of $7.96. The company’s 50 day simple moving average is $7.55 and its two-hundred day simple moving average is $7.51.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.0295 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.35 annualized dividend and a dividend yield of 4.72%.

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

A number of hedge funds have recently bought and sold shares of the business. Beckerman Institutional LLC bought a new position in PIMCO New York Municipal Income Fund II in the third quarter worth approximately $120,000. Morse Asset Management Inc purchased a new position in PIMCO New York Municipal Income Fund II in the third quarter worth about $182,000. Wolverine Asset Management LLC raised its stake in shares of PIMCO New York Municipal Income Fund II by 365.4% in the second quarter. Wolverine Asset Management LLC now owns 29,314 shares of the company’s stock valued at $217,000 after acquiring an additional 23,015 shares during the period. Palumbo Wealth Management LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II during the 3rd quarter worth approximately $487,000. Finally, Logan Stone Capital LLC boosted its position in PIMCO New York Municipal Income Fund II by 11.7% in the 2nd quarter. Logan Stone Capital LLC now owns 82,576 shares of the company’s stock valued at $612,000 after buying an additional 8,651 shares during the period.

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.