PIMCO Municipal Income Fund III (NYSE:PMX) Short Interest Update

PIMCO Municipal Income Fund III (NYSE:PMX) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 9,600 shares, a drop of 45.1% from the November 30th total of 17,500 shares. Based on an average daily volume of 112,200 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. increased its position in shares of PIMCO Municipal Income Fund III by 67.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 804,465 shares of the investment management company’s stock worth $6,645,000 after acquiring an additional 323,484 shares during the period. Advisors Asset Management Inc. lifted its stake in PIMCO Municipal Income Fund III by 16.2% in the third quarter. Advisors Asset Management Inc. now owns 641,135 shares of the investment management company’s stock worth $5,296,000 after acquiring an additional 89,512 shares during the period. Palumbo Wealth Management LLC bought a new stake in shares of PIMCO Municipal Income Fund III in the 3rd quarter valued at about $484,000. Commonwealth Equity Services LLC raised its stake in PIMCO Municipal Income Fund III by 17.8% in the second quarter. Commonwealth Equity Services LLC now owns 44,446 shares of the investment management company’s stock worth $350,000 after buying an additional 6,704 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of PIMCO Municipal Income Fund III in the 3rd quarter valued at $361,000.

PIMCO Municipal Income Fund III Stock Up 0.6 %

NYSE:PMX opened at $7.27 on Friday. PIMCO Municipal Income Fund III has a 1 year low of $7.02 and a 1 year high of $8.52. The stock’s 50 day simple moving average is $7.76 and its two-hundred day simple moving average is $7.88.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be issued a dividend of $0.033 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, December 12th.

About PIMCO Municipal Income Fund III

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.