PIMCO New York Municipal Income Fund (NYSE:PNF) Sees Large Growth in Short Interest

PIMCO New York Municipal Income Fund (NYSE:PNF) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 22,000 shares, an increase of 201.4% from the February 13th total of 7,300 shares. Based on an average trading volume of 32,900 shares, the days-to-cover ratio is currently 0.7 days.

PIMCO New York Municipal Income Fund Stock Performance

PNF stock traded down $0.04 during mid-day trading on Thursday, reaching $7.52. 8,577 shares of the company’s stock were exchanged, compared to its average volume of 24,847. PIMCO New York Municipal Income Fund has a 12-month low of $7.29 and a 12-month high of $8.39. The stock’s 50 day moving average is $7.61 and its 200 day moving average is $7.87.

PIMCO New York Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.0335 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.40 annualized dividend and a yield of 5.35%.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new stake in shares of PIMCO New York Municipal Income Fund in the fourth quarter valued at approximately $92,000. Saba Capital Management L.P. purchased a new stake in shares of PIMCO New York Municipal Income Fund in the fourth quarter valued at about $110,000. Logan Stone Capital LLC acquired a new stake in PIMCO New York Municipal Income Fund during the fourth quarter worth about $479,000. Almitas Capital LLC purchased a new position in PIMCO New York Municipal Income Fund during the fourth quarter worth about $155,000. Finally, Guggenheim Capital LLC boosted its holdings in PIMCO New York Municipal Income Fund by 11.3% in the 4th quarter. Guggenheim Capital LLC now owns 98,630 shares of the company’s stock valued at $733,000 after purchasing an additional 10,022 shares during the last quarter.

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.