Pimco New York Municipal Income Fund III V.PYN

Primary Symbol: PYN

PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.

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Pimco New York Municipal Income Fund III

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Post by YourNadiron Mar 16, 2011 10:16pm

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Post# 18296668

Private placement

They raised a fair bit of capital. That's good.
The extra 78 million shares, um, not so good. This company has a large float as it is.
That said, I have had success investing in solid companies with an enormous number of shares outstanding.
Copper Fox Metals and Selwyn Resources have done well for me over the past several months despite both mining companies having in the range of 400 million shares outstanding.

I'm generally not a "tech" guy. I prefer commodities, but PYN intrigues me. Mobile advertising is going to be huge. I think Poynt will be a significant player in this space eventually. The product is outstanding -- it lends itself to advertising -- and the patent is a big plus.

So long as management doesn't pull a reverse split down the road, I'm OK with today's move. The s/p will probably bump around at 17-20 for a while, as others have said, but it's hard not to get excited about the longer term with Poynt.

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