PIMCO Municipal Income Fund (NYSE:PMF) Sees Large Growth in Short Interest

PIMCO Municipal Income Fund (NYSE:PMF) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 203,900 shares, an increase of 61.8% from the October 31st total of 126,000 shares. Based on an average trading volume of 76,200 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Trading of PIMCO Municipal Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of PMF. Captrust Financial Advisors grew its holdings in shares of PIMCO Municipal Income Fund by 8.4% during the third quarter. Captrust Financial Advisors now owns 233,128 shares of the financial services provider’s stock valued at $2,406,000 after purchasing an additional 18,055 shares during the last quarter. Van ECK Associates Corp boosted its stake in PIMCO Municipal Income Fund by 9.3% during the 3rd quarter. Van ECK Associates Corp now owns 125,388 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 10,721 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in PIMCO Municipal Income Fund during the 3rd quarter valued at $211,000. Fortitude Family Office LLC bought a new position in PIMCO Municipal Income Fund during the 3rd quarter valued at $93,000. Finally, Traynor Capital Management Inc. boosted its stake in PIMCO Municipal Income Fund by 12.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 151,617 shares of the financial services provider’s stock valued at $1,565,000 after purchasing an additional 16,746 shares in the last quarter.

PIMCO Municipal Income Fund Trading Up 0.8 %

NYSE PMF traded up $0.08 on Friday, hitting $9.64. 26,187 shares of the stock traded hands, compared to its average volume of 69,112. The stock has a 50-day moving average of $9.87 and a 200 day moving average of $9.53. PIMCO Municipal Income Fund has a twelve month low of $8.83 and a twelve month high of $10.50.

PIMCO Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.042 per share. This represents a $0.50 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Tuesday, November 12th.

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.