Short Interest in PIMCO New York Municipal Income Fund II (NYSE:PNI) Drops By 64.3%

PIMCO New York Municipal Income Fund II (NYSE:PNI) was the target of a large drop in short interest in January. As of January 30th, there was short interest totaling 4,159 shares, a drop of 64.3% from the January 15th total of 11,637 shares. Based on an average daily volume of 50,508 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 50,508 shares, the days-to-cover ratio is currently 0.1 days.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. increased its stake in PIMCO New York Municipal Income Fund II by 189.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 417,718 shares of the company’s stock valued at $2,903,000 after purchasing an additional 273,530 shares during the last quarter. Riverbridge Partners LLC grew its position in shares of PIMCO New York Municipal Income Fund II by 50.1% in the 4th quarter. Riverbridge Partners LLC now owns 202,579 shares of the company’s stock valued at $1,396,000 after buying an additional 67,586 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new stake in PIMCO New York Municipal Income Fund II during the 2nd quarter worth $325,000. Whitebox Advisors LLC purchased a new stake in PIMCO New York Municipal Income Fund II in the second quarter valued at $310,000. Finally, Guggenheim Capital LLC boosted its stake in PIMCO New York Municipal Income Fund II by 10.3% in the second quarter. Guggenheim Capital LLC now owns 246,809 shares of the company’s stock valued at $1,659,000 after acquiring an additional 23,036 shares in the last quarter.

PIMCO New York Municipal Income Fund II Trading Down 0.1%

Shares of PNI stock opened at $7.12 on Wednesday. The firm has a fifty day moving average price of $6.95 and a 200 day moving average price of $6.87. PIMCO New York Municipal Income Fund II has a 12 month low of $6.43 and a 12 month high of $7.47.

PIMCO New York Municipal Income Fund II Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 12th will be given a dividend of $0.0295 per share. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, February 12th.

About PIMCO New York Municipal Income Fund II

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.