PML

Pimco Municipal Income Fund II

A closed-end fund that buys municipal bonds — debt issued by cities, states, and local agencies — so shareholders can enjoy income that is generally free from federal income tax. It trades on the New York Stock Exchange and is managed by PIMCO, the bond house founded in 1971 in Newport Beach, California, where a young Bill Gross helped pioneer an active "total return" style of bond investing. In 2025 the fund absorbed two sibling PIMCO municipal funds, making it the surviving, larger member of its family.