PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Up 1,085.7% in August

PIMCO California Municipal Income Fund (NYSE:PCQ) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 8,300 shares, a growth of 1,085.7% from the August 15th total of 700 shares. Based on an average daily volume of 53,700 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of PIMCO California Municipal Income Fund

Hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in PIMCO California Municipal Income Fund during the fourth quarter valued at about $97,000. Mechanics Bank Trust Department bought a new position in shares of PIMCO California Municipal Income Fund in the first quarter worth about $104,000. Mercer Global Advisors Inc. ADV bought a new position in shares of PIMCO California Municipal Income Fund in the second quarter worth about $115,000. Wedbush Securities Inc. boosted its stake in shares of PIMCO California Municipal Income Fund by 22.5% in the second quarter. Wedbush Securities Inc. now owns 21,841 shares of the investment management company’s stock worth $206,000 after acquiring an additional 4,012 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of PIMCO California Municipal Income Fund by 12.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,000 shares of the investment management company’s stock worth $217,000 after acquiring an additional 2,500 shares during the period.

PIMCO California Municipal Income Fund Stock Up 0.3 %

Shares of PCQ stock traded up $0.03 during mid-day trading on Friday, hitting $9.93. The company’s stock had a trading volume of 58,479 shares, compared to its average volume of 58,277. PIMCO California Municipal Income Fund has a 52-week low of $8.19 and a 52-week high of $10.02. The business has a 50-day moving average price of $9.53 and a 200 day moving average price of $9.39.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.036 per share. This represents a $0.43 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Friday, September 13th.

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.