Pimco Municipal Income Fund (NYSE:PMF) Stock Crosses Above 50-Day Moving Average of $14.92

Pimco Municipal Income Fund (NYSE:PMF)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.92 and traded as high as $15.36. Pimco Municipal Income Fund shares last traded at $15.31, with a volume of 442 shares changing hands.

The company has a fifty day moving average price of $14.94 and a two-hundred day moving average price of $14.68.

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Thursday, October 10th.

A number of hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its position in Pimco Municipal Income Fund by 29.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 36,205 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 8,305 shares during the period. Morgan Stanley increased its position in Pimco Municipal Income Fund by 4.6% in the 2nd quarter. Morgan Stanley now owns 70,132 shares of the financial services provider’s stock valued at $1,014,000 after acquiring an additional 3,115 shares during the period. Bank of America Corp DE increased its position in Pimco Municipal Income Fund by 8.9% in the 2nd quarter. Bank of America Corp DE now owns 52,328 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 4,262 shares during the period. Private Advisor Group LLC increased its position in Pimco Municipal Income Fund by 8.1% in the 2nd quarter. Private Advisor Group LLC now owns 13,718 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 1,030 shares during the period. Finally, First Allied Advisory Services Inc. acquired a new position in Pimco Municipal Income Fund in the 2nd quarter valued at about $212,000.

Pimco Municipal Income Fund Company Profile (NYSE:PMF)

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.

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