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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.


NYSE:PYN - Post by User

Post by DEXT3Ron Jul 06, 2012 9:17am
311 Views
Post# 20087953

DUMP IT

DUMP IT

I will be dumping my shares today.... plan on taking at least a 20-25k hit

From my previous experience of being caught in this situation before with CIT, the best price you will get is today.  Slowly the stock will errode to zero.

I know this isn't what anyone wanted to hear, but holding this possition for a long term will result in 100% loss.  I've probably lost more than anyone posting on here, this is what happens when you mess with the venture.  I've traded GM when it went into BK protection as well, first day is where all the money is, expect high volatility.

On a better note, I'll be offsetting my loss here with a 15k gain from T.LEG

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