PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

PIMCO California Municipal Income Fund III (NYSE:PZC)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.26 and traded as low as $6.75. PIMCO California Municipal Income Fund III shares last traded at $6.76, with a volume of 143,185 shares trading hands.

PIMCO California Municipal Income Fund III Stock Up 0.1 %

The stock’s fifty day simple moving average is $7.17 and its 200-day simple moving average is $7.26.

PIMCO California Municipal Income Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be given a dividend of $0.0295 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.35 dividend on an annualized basis and a yield of 5.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PZC. Farther Finance Advisors LLC acquired a new stake in shares of PIMCO California Municipal Income Fund III during the third quarter worth about $38,000. Logan Stone Capital LLC acquired a new stake in PIMCO California Municipal Income Fund III during the 2nd quarter valued at approximately $83,000. Wolverine Asset Management LLC boosted its holdings in shares of PIMCO California Municipal Income Fund III by 5,134.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 31,405 shares of the investment management company’s stock valued at $225,000 after acquiring an additional 30,805 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of PIMCO California Municipal Income Fund III by 7.1% in the third quarter. Intellectus Partners LLC now owns 37,500 shares of the investment management company’s stock worth $282,000 after acquiring an additional 2,500 shares during the period. Finally, Landscape Capital Management L.L.C. raised its holdings in shares of PIMCO California Municipal Income Fund III by 15.8% during the third quarter. Landscape Capital Management L.L.C. now owns 100,858 shares of the investment management company’s stock worth $756,000 after purchasing an additional 13,750 shares during the last quarter.

About PIMCO California Municipal Income Fund III

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