Short Interest in PIMCO Municipal Income Fund II (NYSE:PML) Drops By 35.1%

PIMCO Municipal Income Fund II (NYSE:PML) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 177,900 shares, a drop of 35.1% from the February 28th total of 274,000 shares. Based on an average trading volume of 241,800 shares, the days-to-cover ratio is currently 0.7 days.

PIMCO Municipal Income Fund II Stock Performance

Shares of NYSE PML traded up $0.01 during mid-day trading on Friday, reaching $8.05. The company’s stock had a trading volume of 192,447 shares, compared to its average volume of 202,303. PIMCO Municipal Income Fund II has a 52 week low of $7.94 and a 52 week high of $9.52. The stock has a fifty day moving average of $8.36 and a two-hundred day moving average of $8.61.

PIMCO Municipal Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a $0.0395 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.47 dividend on an annualized basis and a yield of 5.89%.

Institutional Investors Weigh In On PIMCO Municipal Income Fund II

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisory LLC boosted its holdings in shares of PIMCO Municipal Income Fund II by 10.1% during the 4th quarter. Cornerstone Advisory LLC now owns 187,727 shares of the investment management company’s stock valued at $1,599,000 after purchasing an additional 17,277 shares during the last quarter. Nomura Holdings Inc. purchased a new position in PIMCO Municipal Income Fund II during the 4th quarter valued at approximately $421,000. Cahill Financial Advisors Inc. bought a new stake in PIMCO Municipal Income Fund II in the 4th quarter worth approximately $119,000. Citadel Advisors LLC purchased a new stake in shares of PIMCO Municipal Income Fund II during the 4th quarter worth approximately $114,000. Finally, Jane Street Group LLC bought a new position in shares of PIMCO Municipal Income Fund II during the 4th quarter valued at approximately $179,000.

PIMCO Municipal Income Fund II Company Profile

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