PIMCO New York Municipal Income Fund (NYSE:PNF – Get Free Report) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 12,000 shares, a growth of 25.0% from the August 31st total of 9,600 shares. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is currently 0.4 days.
Institutional Investors Weigh In On PIMCO New York Municipal Income Fund
A hedge fund recently raised its stake in PIMCO New York Municipal Income Fund stock. Wolverine Asset Management LLC raised its stake in shares of PIMCO New York Municipal Income Fund (NYSE:PNF – Free Report) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,940 shares of the company’s stock after buying an additional 2,525 shares during the period. Wolverine Asset Management LLC’s holdings in PIMCO New York Municipal Income Fund were worth $219,000 as of its most recent SEC filing.
PIMCO New York Municipal Income Fund Stock Performance
PNF stock traded up $0.03 during midday trading on Monday, hitting $8.31. The company’s stock had a trading volume of 1,671 shares, compared to its average volume of 23,984. PIMCO New York Municipal Income Fund has a 12 month low of $6.37 and a 12 month high of $8.40. The firm’s 50-day moving average is $8.01 and its 200-day moving average is $7.83.
PIMCO New York Municipal Income Fund Cuts Dividend
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.
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