(NYSE:PNI) shares saw heavy trading volume with 33K shares changing hands by the end of trading on Tuesday. Volume was up 178.46% over the stocks average daily volume. Investors are feeling more bearish recently looking at the rise in short interest. The firm experienced a rise in short interest from September 29, 2017 to October 13, 2017 of 11.67%. Short shares grew 19,159 over that timeframe.
Additionally, here are a few investment firms who have increased or decreased their stake in (PNI). Bank Of America Corp /de/ downsized its holdings by selling 4,181 shares a decrease of 30.8% as of 06/30/2017. Bank Of America Corp /de/ claims 9,413 shares with a value of $110,000. The total value of its holdings decreased 29.5%. Laurion Capital Management Lp grew its stake by buying 123,449 shares an increase of 753.1% in the quarter. Laurion Capital Management Lp currently owns 139,842 shares worth $1,635,000. The value of the position overall is up by 769.7%.
As of quarter end Guggenheim Capital LLC had disposed of 20,970 shares trimming its position 6.8%. The value of the total investment in Pimco New York Municipal Income went from $3,543,000 to $3,359,000 a change of 5.2% quarter over quarter. As of the end of the quarter Ubs Group Ag had sold a total of 4,248 shares trimming its holdings by 81.0%. The value in dollars decreased from $60,000 to $12,000 decreasing 80.0% for the reporting period.
The company is now down by 0.73% since yesterday’s close of $12.26. It is currently trading at $12.26 which is just under $12.39, the 50 day moving average and which is marginally higher than the 200 day moving average of $11.93. The 50 day moving average went down $-0.13 or -1.04% and the 200 day average was up $0.33.
PIMCO New York Municipal Income Fund II (the Fund) is a non-diversified, closed-end management investment company. The Fund?s investment objective is to provide current income exempt from federal, New York State and New York City income taxes. PIMCO New York Municipal Income Fund II invests substantially all of its total assets in municipal bonds, which pay interest that is exempt from federal, New York State and New York City income taxes. It also invests in residual interest municipal bonds/residual interest tax-exempt bonds..