PIMCO Municipal Income Fund II (NYSE:PML) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

PIMCO Municipal Income Fund II (NYSE:PML) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.30 and traded as high as $8.62. PIMCO Municipal Income Fund II shares last traded at $8.55, with a volume of 159,072 shares traded.

PIMCO Municipal Income Fund II Stock Performance

The company has a 50 day simple moving average of $8.30 and a two-hundred day simple moving average of $8.69.

PIMCO Municipal Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be issued a $0.0395 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.47 annualized dividend and a dividend yield of 5.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers increased its position in PIMCO Municipal Income Fund II by 3.4% during the 2nd quarter. Cetera Investment Advisers now owns 206,654 shares of the investment management company’s stock valued at $1,763,000 after purchasing an additional 6,749 shares during the period. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in PIMCO Municipal Income Fund II during the third quarter valued at about $376,000. Sanctuary Advisors LLC bought a new position in PIMCO Municipal Income Fund II in the second quarter worth about $251,000. Koshinski Asset Management Inc. raised its holdings in PIMCO Municipal Income Fund II by 95.1% in the third quarter. Koshinski Asset Management Inc. now owns 93,995 shares of the investment management company’s stock worth $883,000 after purchasing an additional 45,825 shares in the last quarter. Finally, Stewardship Advisors LLC purchased a new stake in shares of PIMCO Municipal Income Fund II during the third quarter valued at about $103,000.

PIMCO Municipal Income Fund II Company Profile

PIMCO Municipal Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in fixed income markets. The fund invests in stocks of companies operating across diversified sectors.