Key Points
- Director purchase: Sonya Morris bought 5,000 PML shares at an average price of $7.50, investing $37,500 and doubling her holdings to 10,000 shares.
- Stock and dividend: PML opened at $7.33, within its 12-month range of $7.10 to $8.01. The fund announced a monthly dividend of $0.0395 per share, representing an annualized yield of approximately 6.5%.
- Institutional activity: Several institutional investors increased their PML positions, including Bank of America, Allspring Global Investments, Wagner Wealth Management, and Guggenheim Capital.
PIMCO Municipal Income Fund II (NYSE:PML - Get Free Report) Director Sonya Morris bought 5,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $37,500.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately $75,000. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
PIMCO Municipal Income Fund II Stock Performance
PIMCO Municipal Income Fund II stock opened at $7.33 on Wednesday. PIMCO Municipal Income Fund II has a 12 month low of $7.10 and a 12 month high of $8.01. The business has a 50 day simple moving average of $7.50 and a 200-day simple moving average of $7.58.
PIMCO Municipal Income Fund II Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be paid a $0.0395 dividend. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Monday, July 13th.
Institutional Trading of PIMCO Municipal Income Fund II
Several hedge funds have recently made changes to their positions in PML. Guggenheim Capital LLC increased its stake in PIMCO Municipal Income Fund II by 7.5% during the fourth quarter. Guggenheim Capital LLC now owns 2,338,947 shares of the investment management company's stock worth $17,636,000 after acquiring an additional 163,926 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of PIMCO Municipal Income Fund II in the 1st quarter valued at $8,240,000. Wagner Wealth Management LLC lifted its stake in shares of PIMCO Municipal Income Fund II by 11.2% in the 1st quarter. Wagner Wealth Management LLC now owns 1,082,412 shares of the investment management company's stock valued at $8,194,000 after purchasing an additional 108,907 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of PIMCO Municipal Income Fund II by 49.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 880,651 shares of the investment management company's stock worth $6,640,000 after purchasing an additional 290,269 shares during the period. Finally, Bank of America Corp DE increased its position in shares of PIMCO Municipal Income Fund II by 155.6% during the 1st quarter. Bank of America Corp DE now owns 830,277 shares of the investment management company's stock worth $6,285,000 after purchasing an additional 505,452 shares during the last quarter.
PIMCO Municipal Income Fund II Company Profile
(
Get Free Report)
PIMCO Municipal Income Fund II (NYSE: PML) is a closed-end management investment company that seeks to provide a high level of current income exempt from federal income tax. The fund primarily invests in a diversified portfolio of municipal securities, including both investment-grade and below-investment-grade bonds issued by state and local governments, as well as other public entities. By focusing on the municipal market, the fund aims to offer tax-advantaged income to investors, particularly those in higher federal tax brackets.
The fund's portfolio construction emphasizes rigorous credit analysis, sector diversification, and maturity management to balance income objectives with risk controls.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
