PIMCO NY Municipal Income II Stock Price, News & Analysis

PIMCO New York Municipal Income Fund II (PNI) is a closed-end management investment company whose stated investment objective is to seek to provide current income that is exempt from federal, New York State and New York City income tax. The fund’s common shares trade under the symbol PNI on the New York Stock Exchange, giving investors exchange-traded access to a professionally managed municipal bond portfolio.

The fund focuses on investing in municipal bonds that, in the opinion of bond counsel to the issuer or based on other authority believed to be reliable, generate income excluded from gross income for federal, New York State and New York City income tax purposes. According to available information, the portfolio includes investments in sectors such as education, transportation, healthcare and other municipal-related areas, reflecting the range of public-purpose projects financed through municipal securities.

Investment focus and tax-exempt strategy

PIMCO New York Municipal Income Fund II invests, under normal circumstances, at least 80% of its net assets in municipal bonds that pay interest exempt from New York State and New York City income taxes. In an 8-K filing, the fund reported that its Board of Trustees approved a change to its non-fundamental investment guidelines, reducing the minimum investment guideline for New York municipal bonds from 90% to 80% of net assets. This change is scheduled to take effect on October 20, 2025, and will be reflected in the fund’s shareholder reports beginning with the annual report on Form N-CSR for the 12‑month reporting period ended December 31, 2025.

The fund also states that it will continue to invest in accordance with a fundamental policy to, under normal circumstances, invest at least 80% of its assets, as defined under Rule 35d‑1 under the Investment Company Act of 1940, in investments whose income is, in the opinion of bond counsel to the issuer or other authority believed to be reliable, exempt from federal and New York State income taxes. This framework highlights the fund’s focus on tax-exempt income within the municipal bond market.

Structure, management and governance

PIMCO New York Municipal Income Fund II is organized as a fund with common shares and preferred shares. The preferred shares consist of Remarketable Variable Rate Municipal Term Preferred Shares (RVMTPs), which, together with the common shares, represent the fund’s outstanding share classes. The fund is part of a group of municipal income funds that also includes PIMCO California Municipal Income Fund and PIMCO Municipal Income Fund II, as referenced in joint proxy materials.

The fund is managed by Pacific Investment Management Company LLC (PIMCO), which serves as the investment manager. A Board of Trustees oversees the fund, with trustees elected by shareholders. Proxy materials describe how common and preferred shareholders vote on the election and re‑election of trustees, including certain trustees who are elected exclusively by preferred shareholders and others who are elected by common and preferred shareholders voting together as a single class.

Shareholder meetings and voting

According to a definitive joint proxy statement (DEF 14A), PIMCO New York Municipal Income Fund II participates in joint annual meetings of shareholders with related funds. At these meetings, shareholders consider matters such as the election of trustees and any other business that may properly come before the meeting or any adjournment or postponement. The Board of each fund sets a record date for determining which shareholders are entitled to receive notice of, and to vote at, the meeting.

The proxy materials explain that common and preferred shareholders of each fund generally have one vote per share on matters presented, with no cumulative voting rights in the election of trustees. For certain trustee positions, preferred shareholders vote as a separate class, while for others, common and preferred shareholders vote together. The proxy statement also notes that there is no statutory right of appraisal or dissent with respect to the matters to be voted on at the meeting, based on the information provided.

Regulatory status and reporting

PIMCO New York Municipal Income Fund II is registered under the Investment Company Act of 1940. Its Commission File Number is identified in SEC filings, and the fund’s principal executive offices are located in New York, New York. The fund files periodic reports and current reports with the U.S. Securities and Exchange Commission, including Forms N‑CSR, proxy statements on Schedule 14A, and current reports on Form 8‑K describing material events such as changes to investment guidelines.

The fund’s common shares are registered under Section 12(b) of the Securities Exchange Act of 1934 and are listed on the New York Stock Exchange. This listing status is confirmed in the Form 8‑K, which identifies the class of securities as common shares, the trading symbol as PNI, and the exchange as the New York Stock Exchange.

Portfolio sectors and municipal focus

Based on available descriptions, the fund’s portfolio includes municipal securities across sectors such as education, transportation, healthcare and other municipal-related categories. These sectors reflect typical areas where state and local issuers raise capital through municipal bonds to finance public infrastructure, services and facilities. The emphasis on New York municipal bonds aligns the fund’s strategy with bonds whose interest is intended to be exempt from New York State and New York City income taxes, in addition to federal income tax, subject to the opinions of bond counsel or other authority cited in the fund’s disclosures.

Investor considerations

As a closed-end management investment company, PIMCO New York Municipal Income Fund II issues a fixed number of shares that trade on an exchange, rather than issuing and redeeming shares on a continuous basis at net asset value. Investors in PNI gain exposure to a professionally managed portfolio of municipal bonds with a stated focus on tax-exempt income. The fund’s governance structure, investment policies and any changes to its guidelines are documented through SEC filings, proxy statements and shareholder reports, which provide additional detail for those evaluating the fund.

Frequently asked questions about PIMCO New York Municipal Income Fund II