PIMCO California Municipal Income Fund III (NYSE:PZC) Sees Large Decrease in Short Interest

PIMCO California Municipal Income Fund III (NYSE:PZC) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 29,800 shares, a drop of 19.5% from the February 28th total of 37,000 shares. Based on an average trading volume of 80,700 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Logan Stone Capital LLC grew its stake in PIMCO California Municipal Income Fund III by 332.4% in the 4th quarter. Logan Stone Capital LLC now owns 115,841 shares of the investment management company’s stock worth $796,000 after acquiring an additional 89,050 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of PIMCO California Municipal Income Fund III by 19.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock valued at $2,715,000 after purchasing an additional 63,236 shares during the period. Raymond James Financial Inc. bought a new position in PIMCO California Municipal Income Fund III in the fourth quarter worth approximately $338,000. Bank of New York Mellon Corp purchased a new position in PIMCO California Municipal Income Fund III during the 4th quarter worth $249,000. Finally, Wolverine Asset Management LLC raised its position in PIMCO California Municipal Income Fund III by 40.0% during the 4th quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock valued at $857,000 after purchasing an additional 35,672 shares in the last quarter.

PIMCO California Municipal Income Fund III Stock Performance

PZC opened at $6.52 on Monday. The business has a fifty day moving average of $6.75 and a 200 day moving average of $7.02. PIMCO California Municipal Income Fund III has a 52-week low of $6.51 and a 52-week high of $7.67.

PIMCO California Municipal Income Fund III Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Thursday, March 13th.

PIMCO California Municipal Income Fund III Company Profile

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.