PIMCO California Municipal Income Fund II (NYSE:PCK) Short Interest Up 34.6% in February

PIMCO California Municipal Income Fund II (NYSE:PCK) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 52,900 shares, an increase of 34.6% from the January 31st total of 39,300 shares. Based on an average trading volume of 141,700 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PCK. Sit Investment Associates Inc. increased its holdings in shares of PIMCO California Municipal Income Fund II by 104.7% during the fourth quarter. Sit Investment Associates Inc. now owns 612,916 shares of the closed-end fund’s stock worth $3,506,000 after purchasing an additional 313,539 shares during the period. Saba Capital Management L.P. increased its holdings in shares of PIMCO California Municipal Income Fund II by 12.1% during the fourth quarter. Saba Capital Management L.P. now owns 1,417,456 shares of the closed-end fund’s stock worth $8,108,000 after purchasing an additional 152,715 shares during the period. Bank of New York Mellon Corp bought a new position in shares of PIMCO California Municipal Income Fund II during the fourth quarter worth approximately $736,000. Rockefeller Capital Management L.P. bought a new position in shares of PIMCO California Municipal Income Fund II during the third quarter worth approximately $547,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of PIMCO California Municipal Income Fund II by 13.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 624,074 shares of the closed-end fund’s stock worth $3,570,000 after purchasing an additional 75,771 shares during the period.

PIMCO California Municipal Income Fund II Price Performance

PIMCO California Municipal Income Fund II stock opened at $5.91 on Thursday. PIMCO California Municipal Income Fund II has a twelve month low of $5.50 and a twelve month high of $6.34. The company’s 50-day moving average price is $5.77 and its two-hundred day moving average price is $5.93.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.0215 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.26 annualized dividend and a dividend yield of 4.37%.

PIMCO California Municipal Income Fund II Company Profile

PIMCO California Municipal Income Fund II 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 United States. It seeks to invest in stocks of companies operating across diversified sectors.