PIMCO Municipal Income Fund (NYSE:PMF) Shares Pass Above 50-Day Moving Average of $9.13

PIMCO Municipal Income Fund (NYSE:PMF)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.13 and traded as high as $9.19. PIMCO Municipal Income Fund shares last traded at $9.07, with a volume of 84,283 shares changing hands.

PIMCO Municipal Income Fund Stock Performance

The firm’s 50-day moving average is $9.13 and its 200 day moving average is $9.28.

PIMCO Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, July 1st. Stockholders of record on Thursday, June 13th were issued a dividend of $0.042 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Thursday, June 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PMF. Van ECK Associates Corp raised its stake in shares of PIMCO Municipal Income Fund by 44.5% in the 4th quarter. Van ECK Associates Corp now owns 150,393 shares of the financial services provider’s stock valued at $1,403,000 after acquiring an additional 46,301 shares during the period. Traynor Capital Management Inc. raised its position in 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 purchasing an additional 9,330 shares during the period. Gridiron Partners LLC acquired a new position in shares of PIMCO Municipal Income Fund during the fourth quarter worth about $973,000. Avantax Advisory Services Inc. boosted its position in shares of PIMCO Municipal Income Fund by 14.9% in the first quarter. Avantax Advisory Services Inc. now owns 100,084 shares of the financial services provider’s stock worth $934,000 after buying an additional 12,975 shares during the period. Finally, Hudock Inc. grew its stake in shares of PIMCO Municipal Income Fund by 6.1% in the fourth quarter. Hudock Inc. now owns 28,606 shares of the financial services provider’s stock valued at $267,000 after buying an additional 1,645 shares in the last quarter.

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.