PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Passes Below 200-Day Moving Average – What’s Next?

PIMCO California Municipal Income Fund (NYSE:PCQ) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.45 and traded as low as $8.93. PIMCO California Municipal Income Fund shares last traded at $8.97, with a volume of 19,129 shares traded.

PIMCO California Municipal Income Fund Trading Up 0.1 %

The stock’s fifty day moving average is $9.08 and its two-hundred day moving average is $9.45.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a $0.036 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 4.84%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC raised its stake in PIMCO California Municipal Income Fund by 2.7% in the fourth quarter. LPL Financial LLC now owns 99,513 shares of the investment management company’s stock valued at $900,000 after buying an additional 2,635 shares during the period. Wedbush Securities Inc. raised its stake in PIMCO California Municipal Income Fund by 12.3% in the 4th quarter. Wedbush Securities Inc. now owns 29,044 shares of the investment management company’s stock valued at $263,000 after acquiring an additional 3,192 shares during the period. Logan Stone Capital LLC lifted its holdings in PIMCO California Municipal Income Fund by 11.6% during the 4th quarter. Logan Stone Capital LLC now owns 115,951 shares of the investment management company’s stock valued at $1,048,000 after purchasing an additional 12,092 shares during the last quarter. Morse Asset Management Inc bought a new position in PIMCO California Municipal Income Fund during the third quarter worth $136,000. Finally, Saba Capital Management L.P. acquired a new position in shares of PIMCO California Municipal Income Fund in the fourth quarter valued at $150,000.

PIMCO California Municipal Income Fund Company Profile

PIMCO California Municipal Income Fund 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 the United States. It seeks to invest in stocks of companies operating across diversified sectors.