PIMCO New York Municipal Income Fund II (NYSE:PNI) Stock Price Down 1.5% – Here’s What Happened

PIMCO New York Municipal Income Fund II (NYSE:PNI)’s stock price dropped 1.5% during mid-day trading on Wednesday . The company traded as low as $7.44 and last traded at $7.46. Approximately 61,119 shares changed hands during mid-day trading, an increase of 106% from the average daily volume of 29,677 shares. The stock had previously closed at $7.57.

PIMCO New York Municipal Income Fund II Price Performance

The company has a 50-day simple moving average of $7.69 and a 200 day simple moving average of $7.48.

PIMCO New York Municipal Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be issued a dividend of $0.0295 per share. This represents a $0.35 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, October 11th.

Hedge Funds Weigh In On PIMCO New York Municipal Income Fund II

Several institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its stake in PIMCO New York Municipal Income Fund II by 1.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 201,853 shares of the company’s stock valued at $1,496,000 after buying an additional 3,431 shares in the last quarter. Logan Stone Capital LLC lifted its position in shares of PIMCO New York Municipal Income Fund II by 11.7% in the second quarter. Logan Stone Capital LLC now owns 82,576 shares of the company’s stock valued at $612,000 after acquiring an additional 8,651 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of PIMCO New York Municipal Income Fund II by 365.4% in the second quarter. Wolverine Asset Management LLC now owns 29,314 shares of the company’s stock worth $217,000 after acquiring an additional 23,015 shares during the last quarter. Finally, Matisse Capital increased its position in shares of PIMCO New York Municipal Income Fund II by 29.2% during the second quarter. Matisse Capital now owns 128,524 shares of the company’s stock worth $952,000 after purchasing an additional 29,017 shares in 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.