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 growth in short interest in November. As of November 15th, there was short interest totalling 12,000 shares, a growth of 605.9% from the October 31st total of 1,700 shares. Based on an average daily trading volume, of 45,300 shares, the short-interest ratio is presently 0.3 days.

PIMCO New York Municipal Income Fund II Stock Up 0.8 %

Shares of PIMCO New York Municipal Income Fund II stock traded up $0.06 during trading hours on Wednesday, reaching $7.47. The company’s stock had a trading volume of 108,196 shares, compared to its average volume of 32,283. The stock’s fifty day simple moving average is $7.58 and its two-hundred day simple moving average is $7.51. PIMCO New York Municipal Income Fund II has a one year low of $7.03 and a one year high of $7.96.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.0295 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.35 annualized dividend and a dividend yield of 4.74%.

Institutional Trading of PIMCO New York Municipal Income Fund II

Several institutional investors and hedge funds have recently made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of PIMCO New York Municipal Income Fund II in the third quarter valued at about $182,000. Wolverine Asset Management LLC increased its holdings in 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 buying an additional 35,993 shares during the last quarter. Beckerman Institutional LLC purchased a new stake in PIMCO New York Municipal Income Fund II during the third quarter worth about $120,000. Palumbo Wealth Management LLC purchased a new stake in PIMCO New York Municipal Income Fund II during the third quarter worth about $487,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in PIMCO New York Municipal Income Fund II by 4.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 211,829 shares of the company’s stock worth $1,671,000 after buying an additional 9,976 shares during the last quarter.

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.