Pimco New York Municipal Income (NYSE:PNI) Trading Up – Short Interest increased by 19.79%


Traders are feeling more bearish recently as indicated by the uptick in short interest. The stock saw a rise in short interest from August 15, 2017 to August 31, 2017 of 19.79%. Short interest grew 6,922 over that period.

A few notable investment firms have updated their holdings. Ubs Group Ag reduced its stake by selling 4,248 shares a decrease of 81.0% from 03/31/2017 to 06/30/2017. Ubs Group Ag now holds 994 shares worth $12,000. The total value of its holdings decreased 80.0%. As of the end of the quarter Guggenheim Capital LLC had sold a total of 20,970 shares trimming its holdings by 6.8%. The value in dollars decreased from $3,543,000 to $3,359,000 a change of 5.2% since the last quarter.

Laurion Capital Management Lp augmented its holdings by buying 123,449 shares an increase of 753.1% as of 06/30/2017. Laurion Capital Management Lp claims 139,842 shares valued at $1,635,000. The value of the position overall is up by 769.7%. As of quarter end Bank Of America Corp /de/ had disposed of 4,181 shares trimming its position 30.8%. The value of the total investment in Pimco New York Municipal Income went from $156,000 to $110,000 decreasing 29.5% for the reporting period.

The company is up since yesterday’s close of 12.36. Shares are trading at $12.40 slightly over the 50 day moving average of $12.07 and barely above the 200 day moving average of $11.73. The 50 day moving average was up by +2.77% whereas the 200 day average was up by +5.69%.

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..