PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Crosses Above 50 Day Moving Average – What’s Next?

PIMCO California Municipal Income Fund (NYSE:PCQ)’s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $8.79 and traded as high as $8.95. PIMCO California Municipal Income Fund shares last traded at $8.9050, with a volume of 87,115 shares traded.

PIMCO California Municipal Income Fund Stock Down 0.2%

The firm has a 50 day moving average of $8.79 and a two-hundred day moving average of $8.64.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Tuesday, January 13th will be given a $0.036 dividend. The ex-dividend date is Tuesday, January 13th. This represents a c) annualized dividend and a dividend yield of 4.9%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of PIMCO California Municipal Income Fund in the second quarter valued at approximately $104,000. Catalina Capital Group LLC acquired a new stake in PIMCO California Municipal Income Fund during the 2nd quarter valued at $109,000. Matisse Capital grew its holdings in PIMCO California Municipal Income Fund by 106.0% during the 2nd quarter. Matisse Capital now owns 151,306 shares of the investment management company’s stock valued at $1,300,000 after buying an additional 77,854 shares during the last quarter. Williams & Novak LLC increased its position in PIMCO California Municipal Income Fund by 39.3% during the second quarter. Williams & Novak LLC now owns 288,755 shares of the investment management company’s stock worth $2,480,000 after buying an additional 81,500 shares in the last quarter. Finally, Level Wealth Management LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the second quarter worth $333,000.

PIMCO California Municipal Income Fund Company Profile

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.