PIMCO New York Municipal Income Fund (NYSE:PNF) Short Interest Down 61.1% in November

PIMCO New York Municipal Income Fund (NYSE:PNF) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 14,500 shares, a decline of 61.1% from the October 31st total of 37,300 shares. Based on an average daily trading volume, of 19,800 shares, the short-interest ratio is presently 0.7 days.

PIMCO New York Municipal Income Fund Price Performance

NYSE PNF traded up $0.07 on Wednesday, reaching $7.99. The company’s stock had a trading volume of 29,485 shares, compared to its average volume of 23,025. PIMCO New York Municipal Income Fund has a twelve month low of $7.39 and a twelve month high of $8.40. The firm’s 50 day moving average is $8.13 and its two-hundred day moving average is $7.97.

PIMCO New York Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.0335 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PNF. Wolverine Asset Management LLC raised its holdings in PIMCO New York Municipal Income Fund by 9.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 27,940 shares of the company’s stock worth $219,000 after buying an additional 2,525 shares during the period. PFG Investments LLC acquired a new position in shares of PIMCO New York Municipal Income Fund in the third quarter worth about $102,000. Horizon Kinetics Asset Management LLC increased its position in shares of PIMCO New York Municipal Income Fund by 71.6% in the third quarter. Horizon Kinetics Asset Management LLC now owns 58,956 shares of the company’s stock worth $489,000 after acquiring an additional 24,599 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of PIMCO New York Municipal Income Fund by 69.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,401 shares of the company’s stock valued at $734,000 after acquiring an additional 36,079 shares during the period. Finally, Matisse Capital purchased a new stake in shares of PIMCO New York Municipal Income Fund in the 2nd quarter valued at approximately $651,000.

About PIMCO New York Municipal Income Fund

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