PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Passes Below 200 Day Moving Average – Here’s Why

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.84 and traded as low as $8.54. PIMCO California Municipal Income Fund shares last traded at $8.5950, with a volume of 85,193 shares traded.

PIMCO California Municipal Income Fund Price Performance

The stock’s 50-day moving average price is $8.92 and its 200-day moving average price is $8.84.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be issued a $0.036 dividend. The ex-dividend date is Thursday, March 12th. This represents a c) annualized dividend and a yield of 5.1%.

Institutional Trading of PIMCO California Municipal Income Fund

A number of large investors have recently bought and sold shares of the business. Matisse Capital lifted its stake in shares of PIMCO California Municipal Income Fund by 508.2% in the 3rd quarter. Matisse Capital now owns 920,318 shares of the investment management company’s stock valued at $8,025,000 after purchasing an additional 769,012 shares during the period. Advisors Asset Management Inc. grew its stake in PIMCO California Municipal Income Fund by 171.9% during the third quarter. Advisors Asset Management Inc. now owns 1,160,051 shares of the investment management company’s stock worth $10,116,000 after purchasing an additional 733,431 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in PIMCO California Municipal Income Fund by 184.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,060,098 shares of the investment management company’s stock worth $9,244,000 after purchasing an additional 686,781 shares during the period. Almitas Capital LLC increased its holdings in PIMCO California Municipal Income Fund by 318.7% in the fourth quarter. Almitas Capital LLC now owns 640,607 shares of the investment management company’s stock worth $5,592,000 after purchasing an additional 487,609 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in PIMCO California Municipal Income Fund by 195.1% in the fourth quarter. Verition Fund Management LLC now owns 460,872 shares of the investment management company’s stock worth $4,023,000 after purchasing an additional 304,678 shares in the last quarter.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.