Short Interest in PIMCO Municipal Income Fund II (NYSE:PML) Rises By 115.7%

PIMCO Municipal Income Fund II (NYSE:PMLGet Rating) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 17,900 shares, a growth of 115.7% from the March 31st total of 8,300 shares. Based on an average daily volume of 200,700 shares, the days-to-cover ratio is currently 0.1 days.

Several hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its holdings in shares of PIMCO Municipal Income Fund II by 1.4% in the 2nd quarter. Morgan Stanley now owns 684,387 shares of the investment management company’s stock valued at $10,320,000 after buying an additional 9,377 shares during the period. HighTower Advisors LLC purchased a new stake in shares of PIMCO Municipal Income Fund II in the 4th quarter valued at $8,176,000. UBS Group AG raised its holdings in shares of PIMCO Municipal Income Fund II by 12.8% in the 3rd quarter. UBS Group AG now owns 553,501 shares of the investment management company’s stock valued at $8,159,000 after buying an additional 62,605 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of PIMCO Municipal Income Fund II by 22.1% in the 4th quarter. Advisor Group Holdings Inc. now owns 287,583 shares of the investment management company’s stock valued at $4,202,000 after buying an additional 52,120 shares during the period. Finally, Claybrook Capital LLC purchased a new stake in shares of PIMCO Municipal Income Fund II in the 3rd quarter valued at $3,957,000.

NYSE:PML traded down $0.06 on Friday, reaching $10.84. The company’s stock had a trading volume of 127,950 shares, compared to its average volume of 189,585. PIMCO Municipal Income Fund II has a 12-month low of $10.52 and a 12-month high of $15.33. The stock has a 50 day moving average price of $11.66 and a 200 day moving average price of $13.31.

The firm also recently announced a monthly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Monday, April 11th will be given a $0.059 dividend. The ex-dividend date is Friday, April 8th. This represents a $0.71 dividend on an annualized basis and a yield of 6.53%.

About PIMCO Municipal Income Fund II (Get Rating)

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.

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