Rivernorth Capital Management LLC Lowers Holdings in PIMCO New York Municipal Income Fund II (NYSE:PNI)

Rivernorth Capital Management LLC cut its stake in shares of PIMCO New York Municipal Income Fund II (NYSE:PNI) by 82.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,083 shares of the company’s stock after selling 237,699 shares during the quarter. Rivernorth Capital Management LLC’s holdings in PIMCO New York Municipal Income Fund II were worth $403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beckerman Institutional LLC bought a new stake in shares of PIMCO New York Municipal Income Fund II in the 3rd quarter worth $120,000. Morse Asset Management Inc bought a new stake in PIMCO New York Municipal Income Fund II in the 3rd quarter worth about $182,000. Wolverine Asset Management LLC raised its position in PIMCO New York Municipal Income Fund II by 365.4% in the 2nd quarter. Wolverine Asset Management LLC now owns 29,314 shares of the company’s stock worth $217,000 after buying an additional 23,015 shares during the last quarter. Palumbo Wealth Management LLC bought a new position in PIMCO New York Municipal Income Fund II during the 3rd quarter valued at about $487,000. Finally, Logan Stone Capital LLC boosted its holdings in shares of PIMCO New York Municipal Income Fund II by 11.7% during the 2nd 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 during the last quarter.

PIMCO New York Municipal Income Fund II Price Performance

PNI opened at $7.34 on Friday. The firm has a 50 day moving average price of $7.50 and a 200-day moving average price of $7.53. PIMCO New York Municipal Income Fund II has a twelve month low of $7.07 and a twelve month high of $7.96.

PIMCO New York Municipal Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.0295 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.35 annualized dividend and a dividend yield of 4.82%.

PIMCO New York Municipal Income Fund II Profile

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.