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 on 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 steve700on Dec 13, 2011 4:19pm

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Post# 19318687

Pyn's stock play

I understand what iceberg selling is, but in this case I'm a bit confused. Why would they be holding the price down like this.
1. As mentioned, financing, but after the last conference call we appear to be just fine until about Aug. So that doesn't add up.
2. Driving it down to get in at a lower level because more fantastic NR's on the way?
3. The possibility of a take over? But would that not be a bit illegal to play the game this way?
I'm just not getting this down ticking. Who benefits ?

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