PIMCO California Municipal Income Fund (NYSE:PCQ) Sees Large Decline in Short Interest

PIMCO California Municipal Income Fund (NYSE:PCQ) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 25,600 shares, a decline of 57.0% from the October 31st total of 59,600 shares. Based on an average trading volume of 56,800 shares, the short-interest ratio is presently 0.5 days.

PIMCO California Municipal Income Fund Stock Up 1.4 %

Shares of NYSE:PCQ traded up $0.13 during midday trading on Thursday, reaching $9.69. The company’s stock had a trading volume of 82,409 shares, compared to its average volume of 57,202. The stock has a fifty day moving average of $9.85 and a 200 day moving average of $9.59. PIMCO California Municipal Income Fund has a twelve month low of $8.75 and a twelve month high of $10.24.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.036 per share. This represents a $0.43 annualized dividend and a yield of 4.46%. The ex-dividend date is Tuesday, November 12th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Institutional investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC boosted its stake in shares of PIMCO California Municipal Income Fund by 40.3% in the third quarter. Rivernorth Capital Management LLC now owns 330,170 shares of the investment management company’s stock worth $3,288,000 after buying an additional 94,829 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in PIMCO California Municipal Income Fund by 80.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 186,292 shares of the investment management company’s stock worth $1,755,000 after purchasing an additional 82,835 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in PIMCO California Municipal Income Fund in the 3rd quarter worth approximately $269,000. Virtu Financial LLC acquired a new stake in shares of PIMCO California Municipal Income Fund during the 3rd quarter worth approximately $250,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of PIMCO California Municipal Income Fund by 5.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 404,092 shares of the investment management company’s stock valued at $4,025,000 after purchasing an additional 21,980 shares in the last quarter.

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.