PIMCO Municipal Income Fund III (NYSE:PMX) Shares Pass Below 200-Day Moving Average of $7.21

PIMCO Municipal Income Fund III (NYSE:PMX) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.21 and traded as low as $7.20. PIMCO Municipal Income Fund III shares last traded at $7.37, with a volume of 161,339 shares changing hands.

PIMCO Municipal Income Fund III Price Performance

The stock has a 50-day simple moving average of $7.49 and a 200-day simple moving average of $7.21.

PIMCO Municipal Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, April 11th will be given a $0.033 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Wednesday, April 10th.

Hedge Funds Weigh In On PIMCO Municipal Income Fund III

A number of institutional investors have recently made changes to their positions in the business. Fiera Capital Corp acquired a new position in shares of PIMCO Municipal Income Fund III in the 4th quarter valued at approximately $6,160,000. UBS Group AG raised its position in shares of PIMCO Municipal Income Fund III by 82.9% during the 1st quarter. UBS Group AG now owns 570,368 shares of the investment management company’s stock valued at $5,915,000 after acquiring an additional 258,533 shares in the last quarter. Morgan Stanley raised its position in shares of PIMCO Municipal Income Fund III by 115.8% during the 4th quarter. Morgan Stanley now owns 374,853 shares of the investment management company’s stock valued at $3,265,000 after acquiring an additional 201,139 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of PIMCO Municipal Income Fund III during the 4th quarter valued at approximately $2,099,000. Finally, Van ECK Associates Corp raised its position in shares of PIMCO Municipal Income Fund III by 25.4% during the 4th quarter. Van ECK Associates Corp now owns 238,955 shares of the investment management company’s stock valued at $1,766,000 after acquiring an additional 48,431 shares in the last quarter.

PIMCO Municipal Income Fund III Company Profile

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and 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. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.