Rivernorth Capital Management LLC Sells 237,699 Shares of PIMCO New York Municipal Income Fund II (NYSE:PNI)

Rivernorth Capital Management LLC cut its holdings in shares of PIMCO New York Municipal Income Fund II (NYSE:PNI) by 82.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 hedge funds also recently made changes to their positions in the business. Beckerman Institutional LLC bought a new position in PIMCO New York Municipal Income Fund II in the third quarter valued at approximately $120,000. Morse Asset Management Inc bought a new position in PIMCO New York Municipal Income Fund II in the third quarter valued at approximately $182,000. Wolverine Asset Management LLC increased its stake in PIMCO New York Municipal Income Fund II by 365.4% in the second quarter. Wolverine Asset Management LLC now owns 29,314 shares of the company’s stock valued at $217,000 after acquiring 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 in the third quarter valued at approximately $487,000. Finally, Logan Stone Capital LLC increased its stake in PIMCO New York Municipal Income Fund II by 11.7% in the second 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

Shares of NYSE:PNI opened at $7.58 on Friday. The company’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $7.52. PIMCO New York Municipal Income Fund II has a 1 year low of $7.07 and a 1 year high of $7.96.

PIMCO New York Municipal Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be paid a $0.0295 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.35 dividend on an annualized basis and a yield of 4.67%.

About PIMCO New York Municipal Income Fund II

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.