PIMCO Municipal Income Fund (NYSE:PMF) Shares Pass Above 50 Day Moving Average of $9.47

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 $9.47 and traded as high as $9.96. PIMCO Municipal Income Fund shares last traded at $9.87, with a volume of 65,816 shares trading hands.

PIMCO Municipal Income Fund Trading Up 0.4 %

The company has a fifty day moving average price of $9.48 and a 200 day moving average price of $9.29.

PIMCO Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.042 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, September 13th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Truist Financial Corp boosted its holdings in PIMCO Municipal Income Fund by 0.6% during the second quarter. Truist Financial Corp now owns 605,110 shares of the financial services provider’s stock worth $5,549,000 after purchasing an additional 3,601 shares during the last quarter. Kimelman & Baird LLC purchased a new position in PIMCO Municipal Income Fund in the second quarter worth $71,000. B. Riley Wealth Advisors Inc. grew its stake in PIMCO Municipal Income Fund by 12.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,806 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 2,346 shares during the period. XTX Topco Ltd bought a new position in PIMCO Municipal Income Fund during the second quarter valued at about $96,000. Finally, Wolverine Asset Management LLC lifted its stake in PIMCO Municipal Income Fund by 359.4% in the second quarter. Wolverine Asset Management LLC now owns 24,807 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 19,407 shares during 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.