PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Passes Below 200-Day Moving Average of $7.22

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.22 and traded as low as $6.95. PIMCO California Municipal Income Fund III shares last traded at $7.05, with a volume of 40,757 shares traded.

PIMCO California Municipal Income Fund III Stock Up 1.4 %

The company’s 50 day simple moving average is $7.58 and its 200 day simple moving average is $7.22.

PIMCO California Municipal Income Fund III Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, April 11th will be issued a $0.0295 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.02%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

Hedge funds have recently made changes to their positions in the stock. Bramshill Investments LLC acquired a new position in shares of PIMCO California Municipal Income Fund III in the 3rd quarter valued at $104,000. Advisors Asset Management Inc. boosted its holdings in shares of PIMCO California Municipal Income Fund III by 4.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 541,139 shares of the investment management company’s stock valued at $3,707,000 after purchasing an additional 24,809 shares during the last quarter. Raymond James & Associates acquired a new position in shares of PIMCO California Municipal Income Fund III in the 3rd quarter valued at $236,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of PIMCO California Municipal Income Fund III by 11.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 435,134 shares of the investment management company’s stock valued at $2,981,000 after purchasing an additional 44,969 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in shares of PIMCO California Municipal Income Fund III in the 4th quarter valued at $131,000.

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.