PIMCO Municipal Income Fund III (NYSE:PMX) to Issue Monthly Dividend of $0.03

PIMCO Municipal Income Fund III (NYSE:PMX) declared a monthly dividend on Wednesday, June 4th, Wall Street Journal reports. Investors of record on Thursday, June 12th will be paid a dividend of 0.033 per share by the investment management company on Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 5.87%. The ex-dividend date is Thursday, June 12th.

PIMCO Municipal Income Fund III Stock Up 0.3%

Shares of PMX stock opened at $6.75 on Thursday. PIMCO Municipal Income Fund III has a one year low of $6.37 and a one year high of $8.52. The stock has a fifty day moving average price of $6.84 and a 200 day moving average price of $7.23.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PIMCO Municipal Income Fund III stock. Royal Bank of Canada increased its position in PIMCO Municipal Income Fund III (NYSE:PMX) by 54.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,850 shares of the investment management company’s stock after purchasing an additional 17,535 shares during the quarter. Royal Bank of Canada’s holdings in PIMCO Municipal Income Fund III were worth $357,000 at the end of the most recent quarter.

About PIMCO Municipal Income Fund III

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.