PIMCO Municipal Income Fund (NYSE:PMF) Shares Cross Below 200-Day Moving Average – Should You Sell?

PIMCO Municipal Income Fund (NYSE:PMF)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.46 and traded as low as $9.20. PIMCO Municipal Income Fund shares last traded at $9.21, with a volume of 41,801 shares changing hands.

PIMCO Municipal Income Fund Stock Up 0.9 %

The firm’s 50 day simple moving average is $9.00 and its 200 day simple moving average is $9.46.

PIMCO Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.042 per share. This represents a $0.50 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Thursday, February 13th.

Insiders Place Their Bets

In related news, major shareholder Of America Corp /De/ Bank purchased 24,110 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of $9.02 per share, for a total transaction of $217,472.20. Following the transaction, the insider now owns 24,110 shares of the company’s stock, valued at $217,472.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC lifted its position in PIMCO Municipal Income Fund by 77.1% in the fourth quarter. Guggenheim Capital LLC now owns 556,410 shares of the financial services provider’s stock worth $4,997,000 after purchasing an additional 242,308 shares during the period. Selway Asset Management lifted its holdings in shares of PIMCO Municipal Income Fund by 3.1% in the fourth quarter. Selway Asset Management now owns 364,900 shares of the financial services provider’s stock valued at $3,277,000 after buying an additional 11,000 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in PIMCO Municipal Income Fund by 1,317.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 289,904 shares of the financial services provider’s stock valued at $2,603,000 after buying an additional 269,453 shares in the last quarter. Captrust Financial Advisors grew its holdings in PIMCO Municipal Income Fund by 13.5% during the fourth quarter. Captrust Financial Advisors now owns 264,584 shares of the financial services provider’s stock worth $2,376,000 after acquiring an additional 31,456 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in PIMCO Municipal Income Fund by 26.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 253,762 shares of the financial services provider’s stock worth $2,279,000 after acquiring an additional 52,593 shares in the last quarter.

About PIMCO Municipal Income Fund

PIMCO 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 the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.