Traynor Capital Management Lowers stake in Pimco Municipal Income Fund II (PML)

Pimco Municipal Income Fund II (PML) : Traynor Capital Management reduced its stake in Pimco Municipal Income Fund II by 26.01% during the most recent quarter end. The investment management company now holds a total of 87,383 shares of Pimco Municipal Income Fund II which is valued at $1,180,544 after selling 30,726 shares in Pimco Municipal Income Fund II , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Pimco Municipal Income Fund II makes up approximately 0.92% of Traynor Capital Management’s portfolio.

Pimco Municipal Income Fund II opened for trading at $13.5 and hit $13.55 on the upside on Friday, eventually ending the session at $13.51, with a gain of 0.52% or 0.07 points. The heightened volatility saw the trading volume jump to 1,58,930 shares. Company has a market cap of $779 M.

Other Hedge Funds, Including , Horizon Kinetics boosted its stake in PML in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 16,500 shares of Pimco Municipal Income Fund II which is valued at $223,905. Pimco Municipal Income Fund II makes up approx 0.01% of Horizon Kinetics’s portfolio. Sit Investment Associates Inc sold out all of its stake in PML during the most recent quarter. The investment firm sold 84,101 shares of PML which is valued $1,141,251.

PIMCO Municipal Income Fund II is a diversified closed-end management investment fund. The Fund’s primary investment objective is to seek current income exempt from federal income tax. The Fund invests at least 90% of its net assets (and at least 80% of its net assets as well as any borrowings for investment purposes) in municipal bonds that pay interest that is exempt from federal income tax. The Fund makes investments in sectors such as state and local governments pre-refunded education hospital housing lease power transportation water and sewer tobacco and industrial development and pollution control. The Fund’s investment manager is Pacific Investment Management Company LLC.

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