PIMCO Municipal Income Fund II (NYSE:PML) Sees Large Drop in Short Interest

PIMCO Municipal Income Fund II (NYSE:PML) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 177,900 shares, a drop of 35.1% from the February 28th total of 274,000 shares. Based on an average daily trading volume, of 241,800 shares, the short-interest ratio is currently 0.7 days.

PIMCO Municipal Income Fund II Stock Up 0.6 %

Shares of NYSE:PML traded up $0.05 during midday trading on Monday, hitting $8.09. The stock had a trading volume of 165,058 shares, compared to its average volume of 202,154. PIMCO Municipal Income Fund II has a 1 year low of $7.94 and a 1 year high of $9.52. The stock has a 50 day moving average price of $8.36 and a two-hundred day moving average price of $8.61.

PIMCO Municipal Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be given a dividend of $0.0395 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.47 annualized dividend and a yield of 5.86%.

Hedge Funds Weigh In On PIMCO Municipal Income Fund II

Hedge funds have recently bought and sold shares of the company. Cornerstone Advisory LLC grew its position in shares of PIMCO Municipal Income Fund II by 10.1% in the fourth quarter. Cornerstone Advisory LLC now owns 187,727 shares of the investment management company’s stock valued at $1,599,000 after purchasing an additional 17,277 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of PIMCO Municipal Income Fund II in the fourth quarter valued at $421,000. Cahill Financial Advisors Inc. acquired a new stake in PIMCO Municipal Income Fund II in the 4th quarter worth about $119,000. Citadel Advisors LLC purchased a new position in PIMCO Municipal Income Fund II during the fourth quarter worth approximately $114,000. Finally, Jane Street Group LLC purchased a new stake in shares of PIMCO Municipal Income Fund II during the 4th quarter worth about $179,000.

About PIMCO Municipal Income Fund II

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