PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Passes Below 200-Day Moving Average – Here’s Why

PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its 200-day moving average during trading on Monday . The stock has a 200-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.

PIMCO California Municipal Income Fund Stock Up 0.1 %

The business’s 50 day moving average is $9.08 and its 200-day moving average is $9.45.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be paid a $0.036 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 4.82%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC grew its stake in shares of 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 worth $900,000 after acquiring an additional 2,635 shares during the last quarter. Wedbush Securities Inc. boosted its holdings 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 purchasing an additional 3,192 shares during the period. Logan Stone Capital LLC grew its position in PIMCO California Municipal Income Fund by 11.6% in the 4th quarter. Logan Stone Capital LLC now owns 115,951 shares of the investment management company’s stock worth $1,048,000 after purchasing an additional 12,092 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of PIMCO California Municipal Income Fund during the 3rd quarter worth about $136,000. Finally, Saba Capital Management L.P. acquired a new stake in PIMCO California Municipal Income Fund during the fourth quarter worth about $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.