Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Decreases By 18.0%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 43,400 shares, a decline of 18.0% from the February 13th total of 52,900 shares. Based on an average daily volume of 137,800 shares, the days-to-cover ratio is currently 0.3 days.

PIMCO California Municipal Income Fund II Trading Up 0.4 %

PCK stock traded up $0.03 during trading on Wednesday, hitting $5.74. The stock had a trading volume of 61,924 shares, compared to its average volume of 95,277. The company’s 50 day moving average price is $5.78 and its two-hundred day moving average price is $5.92. PIMCO California Municipal Income Fund II has a 1-year low of $5.50 and a 1-year high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be issued a $0.0215 dividend. This represents a $0.26 annualized dividend and a yield of 4.50%. The ex-dividend date is Thursday, March 13th.

Institutional Trading of PIMCO California Municipal Income Fund II

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCK. Rockefeller Capital Management L.P. purchased a new stake in PIMCO California Municipal Income Fund II in the 3rd quarter valued at about $547,000. Morse Asset Management Inc purchased a new stake in shares of PIMCO California Municipal Income Fund II during the 3rd quarter worth about $100,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of PIMCO California Municipal Income Fund II by 13.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 624,074 shares of the closed-end fund’s stock worth $3,570,000 after purchasing an additional 75,771 shares during the period. Silicon Valley Capital Partners purchased a new stake in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth about $134,000. Finally, Abound Financial LLC purchased a new stake in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth about $113,000.

PIMCO California Municipal Income Fund II Company Profile

PIMCO California Municipal Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of United States. It seeks to invest in stocks of companies operating across diversified sectors.