PIMCO Municipal Income Fund II (NYSE:PML) Sees Large Increase in Short Interest

PIMCO Municipal Income Fund II (NYSE:PML) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 141,900 shares, a growth of 28.6% from the August 15th total of 110,300 shares. Based on an average daily volume of 71,700 shares, the days-to-cover ratio is presently 2.0 days.

A number of institutional investors have recently added to or reduced their stakes in PML. Mid Atlantic Financial Management Inc. ADV increased its holdings in shares of PIMCO Municipal Income Fund II by 5.9% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 17,500 shares of the investment management company’s stock valued at $264,000 after purchasing an additional 980 shares in the last quarter. Moors & Cabot Inc. grew its position in PIMCO Municipal Income Fund II by 6.5% during the first quarter. Moors & Cabot Inc. now owns 16,500 shares of the investment management company’s stock worth $246,000 after buying an additional 1,000 shares during the period. Private Advisor Group LLC increased its holdings in PIMCO Municipal Income Fund II by 1.6% in the second quarter. Private Advisor Group LLC now owns 81,452 shares of the investment management company’s stock valued at $1,228,000 after buying an additional 1,267 shares in the last quarter. Traynor Capital Management Inc. lifted its position in shares of PIMCO Municipal Income Fund II by 1.0% during the 2nd quarter. Traynor Capital Management Inc. now owns 144,522 shares of the investment management company’s stock valued at $2,189,000 after acquiring an additional 1,481 shares during the period. Finally, QP Wealth Management LLC boosted its stake in shares of PIMCO Municipal Income Fund II by 6.7% during the 2nd quarter. QP Wealth Management LLC now owns 26,355 shares of the investment management company’s stock worth $397,000 after acquiring an additional 1,645 shares in the last quarter.

Shares of PML stock traded down $0.04 during trading hours on Monday, reaching $14.97. 30,352 shares of the company’s stock were exchanged, compared to its average volume of 83,370. The company’s 50 day moving average is $15.06 and its two-hundred day moving average is $14.89. PIMCO Municipal Income Fund II has a 1 year low of $12.95 and a 1 year high of $15.35.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, September 13th will be given a $0.059 dividend. This represents a $0.71 annualized dividend and a yield of 4.73%. The ex-dividend date is Friday, September 10th.

PIMCO Municipal Income Fund II Company Profile

PIMCO Municipal Income Fund II operates as a closed-end investment fund. It intends to seek current income exempt from federal income tax. The firm invests all of its assets in a portfolio of municipal bonds, residual interest municipal bonds and tax-exempt bonds whose interest rates bear an inverse relationship to the interest rate on another security or the value of an index.

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