PIMCO Municipal Income Fund (NYSE:PMF) Short Interest Down 21.0% in March

PIMCO Municipal Income Fund (NYSE:PMF) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 75,400 shares, a decline of 21.0% from the February 28th total of 95,500 shares. Based on an average daily volume of 77,500 shares, the short-interest ratio is currently 1.0 days.

Insiders Place Their Bets

In related news, major shareholder Of America Corp /De/ Bank bought 24,110 shares of the company’s stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $9.02 per share, with a total value of $217,472.20. Following the completion of the acquisition, the insider now owns 24,110 shares in the company, valued at approximately $217,472.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 25,505 shares of company stock worth $230,140.

Institutional Investors Weigh In On PIMCO Municipal Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in PMF. Elequin Capital LP acquired a new position in PIMCO Municipal Income Fund during the fourth quarter worth about $31,000. Citadel Advisors LLC purchased a new position in shares of PIMCO Municipal Income Fund during the 4th quarter worth approximately $99,000. Captrust Financial Advisors raised its position in shares of PIMCO Municipal Income Fund by 13.5% during the 4th quarter. Captrust Financial Advisors now owns 264,584 shares of the financial services provider’s stock worth $2,376,000 after purchasing an additional 31,456 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in PIMCO Municipal Income Fund by 9.2% in the 4th quarter. Ameriprise Financial Inc. now owns 209,366 shares of the financial services provider’s stock valued at $1,880,000 after buying an additional 17,674 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in PIMCO Municipal Income Fund by 77.1% in the 4th quarter. Guggenheim Capital LLC now owns 556,410 shares of the financial services provider’s stock valued at $4,997,000 after buying an additional 242,308 shares in the last quarter.

PIMCO Municipal Income Fund Stock Performance

NYSE PMF traded up $0.04 during mid-day trading on Tuesday, hitting $8.88. The stock had a trading volume of 51,718 shares, compared to its average volume of 75,703. The company has a 50 day simple moving average of $9.06 and a 200 day simple moving average of $9.38. PIMCO Municipal Income Fund has a 52-week low of $8.58 and a 52-week high of $10.50.

PIMCO Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.042 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.68%. The ex-dividend date is Thursday, March 13th.

PIMCO Municipal Income Fund Company Profile

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.