PIMCO California Municipal Income Fund III (NYSE:PZC) Short Interest Update

PIMCO California Municipal Income Fund III (NYSE:PZC) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 29,800 shares, a drop of 19.5% from the February 28th total of 37,000 shares. Based on an average daily volume of 80,700 shares, the days-to-cover ratio is presently 0.4 days.

PIMCO California Municipal Income Fund III Stock Up 1.2 %

PZC traded up $0.08 during trading on Tuesday, reaching $6.60. 123,787 shares of the company’s stock were exchanged, compared to its average volume of 63,445. The business has a 50 day moving average price of $6.75 and a 200 day moving average price of $7.02. PIMCO California Municipal Income Fund III has a fifty-two week low of $6.48 and a fifty-two week high of $7.67.

PIMCO California Municipal Income Fund III Announces 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 given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.35 annualized dividend and a dividend yield of 5.36%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PZC. Virtu Financial LLC acquired a new stake in PIMCO California Municipal Income Fund III during the fourth quarter valued at approximately $86,000. Bank of New York Mellon Corp bought a new position in shares of PIMCO California Municipal Income Fund III during the 4th quarter worth approximately $249,000. Beta Wealth Group Inc. bought a new position in shares of PIMCO California Municipal Income Fund III during the 4th quarter worth approximately $142,000. Wolverine Asset Management LLC boosted its stake in PIMCO California Municipal Income Fund III by 40.0% in the 4th quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock valued at $857,000 after buying an additional 35,672 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in PIMCO California Municipal Income Fund III by 19.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock valued at $2,715,000 after acquiring an additional 63,236 shares during the period.

About PIMCO California Municipal Income Fund III

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