PIMCO New York Municipal Income Fund (NYSE:PNF) Short Interest Up 875.0% in December

PIMCO New York Municipal Income Fund (NYSE:PNF) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 7,800 shares, an increase of 875.0% from the December 15th total of 800 shares. Based on an average daily trading volume, of 33,800 shares, the days-to-cover ratio is currently 0.2 days.

PIMCO New York Municipal Income Fund Stock Performance

NYSE:PNF traded down $0.09 during mid-day trading on Monday, hitting $7.33. 29,486 shares of the company’s stock traded hands, compared to its average volume of 28,169. The firm’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $7.94. PIMCO New York Municipal Income Fund has a 1 year low of $7.32 and a 1 year high of $8.40.

PIMCO New York Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be issued a dividend of $0.0335 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Monday, January 13th.

Institutional Investors Weigh In On PIMCO New York Municipal Income Fund

A number of large investors have recently modified their holdings of PNF. Horizon Kinetics Asset Management LLC lifted its holdings in PIMCO New York Municipal Income Fund by 71.6% in the third quarter. Horizon Kinetics Asset Management LLC now owns 58,956 shares of the company’s stock worth $489,000 after purchasing an additional 24,599 shares during the period. Wolverine Asset Management LLC raised its holdings in PIMCO New York Municipal Income Fund by 22.8% during the third quarter. Wolverine Asset Management LLC now owns 34,313 shares of the company’s stock valued at $285,000 after buying an additional 6,373 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of PIMCO New York Municipal Income Fund by 730.0% in the third quarter. International Assets Investment Management LLC now owns 116,632 shares of the company’s stock valued at $968,000 after acquiring an additional 102,580 shares during the period. PFG Investments LLC bought a new position in PIMCO New York Municipal Income Fund in the third quarter worth $102,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of PIMCO New York Municipal Income Fund by 69.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,401 shares of the company’s stock valued at $734,000 after acquiring an additional 36,079 shares during the period.

PIMCO New York Municipal Income Fund Company Profile

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.