PIMCO Municipal Income Fund (NYSE:PMF) Stock Passes Below 200-Day Moving Average of $9.28

PIMCO Municipal Income Fund (NYSE:PMF) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.28 and traded as low as $9.10. PIMCO Municipal Income Fund shares last traded at $9.11, with a volume of 47,820 shares changing hands.

PIMCO Municipal Income Fund Stock Down 0.3 %

The firm has a fifty day simple moving average of $9.12 and a two-hundred day simple moving average of $9.28.

PIMCO Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, June 13th will be paid a $0.042 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.50 dividend on an annualized basis and a yield of 5.53%.

Institutional Trading of PIMCO Municipal Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Traynor Capital Management Inc. increased its position in shares of PIMCO Municipal Income Fund by 7.7% in the first quarter. Traynor Capital Management Inc. now owns 129,837 shares of the financial services provider’s stock valued at $1,211,000 after acquiring an additional 9,330 shares during the period. Gridiron Partners LLC bought a new position in shares of PIMCO Municipal Income Fund during the fourth quarter valued at approximately $973,000. Principal Securities Inc. purchased a new stake in PIMCO Municipal Income Fund in the fourth quarter worth $30,000. Avantax Advisory Services Inc. boosted its holdings in PIMCO Municipal Income Fund by 12.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 87,109 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 9,320 shares in the last quarter. Finally, Summit X LLC boosted its holdings in PIMCO Municipal Income Fund by 6.2% in the fourth quarter. Summit X LLC now owns 20,248 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 1,188 shares in the last quarter.

About PIMCO Municipal Income Fund

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.