PIMCO California Municipal Income Fund III (NYSE:PZC) Share Price Passes Below 200-Day Moving Average of $7.32

PIMCO California Municipal Income Fund III (NYSE:PZC)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.32 and traded as low as $7.10. PIMCO California Municipal Income Fund III shares last traded at $7.14, with a volume of 51,264 shares trading hands.

PIMCO California Municipal Income Fund III Trading Down 0.6 %

The business’s fifty day moving average is $7.30 and its 200 day moving average is $7.32.

PIMCO California Municipal Income Fund III Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be issued a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, May 10th. This is an increase from PIMCO California Municipal Income Fund III’s previous monthly dividend of $0.03.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

A number of institutional investors have recently modified their holdings of PZC. Advisors Asset Management Inc. increased its position in PIMCO California Municipal Income Fund III by 12.8% during the first quarter. Advisors Asset Management Inc. now owns 654,727 shares of the investment management company’s stock worth $4,969,000 after purchasing an additional 74,055 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in PIMCO California Municipal Income Fund III by 5.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 483,955 shares of the investment management company’s stock worth $3,673,000 after purchasing an additional 25,453 shares during the last quarter. Raymond James & Associates increased its position in shares of PIMCO California Municipal Income Fund III by 40.6% in the fourth quarter. Raymond James & Associates now owns 48,500 shares of the investment management company’s stock worth $357,000 after acquiring an additional 14,000 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of PIMCO California Municipal Income Fund III in the fourth quarter worth $253,000. Finally, Bramshill Investments LLC acquired a new stake in shares of PIMCO California Municipal Income Fund III in the third quarter worth $104,000.

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.