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

PIMCO California Municipal Income Fund (NYSE:PCQ) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.49 and traded as low as $9.03. PIMCO California Municipal Income Fund shares last traded at $9.05, with a volume of 40,483 shares trading hands.

PIMCO California Municipal Income Fund Price Performance

The business has a 50 day simple moving average of $9.10 and a 200 day simple moving average of $9.49.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be given 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 4.77%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Large investors have recently made changes to their positions in the business. Morse Asset Management Inc bought a new position in PIMCO California Municipal Income Fund during the third quarter valued at about $136,000. Saba Capital Management L.P. acquired a new position in PIMCO California Municipal Income Fund during the 4th quarter worth $150,000. Virtu Financial LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the 3rd quarter valued at $250,000. Citadel Advisors LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the 4th quarter valued at $253,000. Finally, Wedbush Securities Inc. raised its stake in PIMCO California Municipal Income Fund by 12.3% during the 4th quarter. Wedbush Securities Inc. now owns 29,044 shares of the investment management company’s stock worth $263,000 after buying an additional 3,192 shares during the period.

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.