PNI News and Press, Pimco New York Municipal Income Fund II of Beneficial Interest From 08/02/22

21 out of 23 CEF sectors positive on price and 22 out of 23 sectors positive on NAV last week. Saba scores a victory against VFL. VFL will tender 50% of its shares in December. Author’s note: This article was released to CEF/ETF Income Laboratory members on July...

PIMCO New York Municipal Income Fund II ( NYSE: PNI ) had declared $0.04/share monthly dividend , in line with previous. Payable Aug. 1; for shareholders of record July 11; ex-div July 8. See PNI Dividend Scorecard, Yield Chart, & Dividend Growth. For fur...

Recent market volatility has opened up discount valuation divergences between very similar CEFs. This offers income investors an opportunity to pick up additional yield, adopt a more defensive stance and generate alpha in their portfolios. We highlight a number of switches in the ...

Interest rate volatility prompted another month of negative total returns. Below-average issuance was counterbalanced by a slowdown in demand. November could provide opportunities ahead of seasonal strength in December and January. For further details see: Muni Seasonal ...

Rising interest rates drove negative total returns. Supply and demand dynamics turned less seasonally favorable and acted as a headwind. More attractive valuations could provide near-term opportunity. For further details see: Munis Remained Tethered To Rates In September...

Interest in municipal closed-end funds (CEFs) vs. municipal bonds often stems from higher return potential - this is mostly due to the use of leverage in municipal closed-end funds. Leverage could potentially amplify both the fund's net asset value (NAV) and its distribution; however,...

Modestly negative performance in August capped a robust summer seasonal period. Issuance exceeded expectations, resulting in less of a supply/demand imbalance than is typical. We maintain a defensive posture into the historically less favorable month of September. For furthe...

Rallying interest rates drove strong muni bond performance in July. Market dynamics remained seasonally favorable, with demand for munis broadly outpacing supply. A more defensive posture may be warranted ahead of elevated risks in the fall. For further details see: Muni...

The muni CEF space is largely buy-and-hold (or long-term rental agreements). But right now, there's a lot of dislocation in the sector. Some funds are extremely expensive while others are relatively cheap. Making swaps makes sense to rotate into the better opportunities and see more d...

PDI and PCI continue to have weak fundamentals. PDO continues to be the best buy in the space. PMX falls back to the buy-range. Since this article, PDO's valuation has skyrocketed above what we deem fair value.  Subsequently, coverage ratios for PCI and PDI have fallen dr...