PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.84 and traded as low as $8.56. PIMCO California Municipal Income Fund shares last traded at $8.57, with a volume of 135,032 shares trading hands.

PIMCO California Municipal Income Fund Stock Up 0.1%

The company’s 50 day simple moving average is $8.83 and its two-hundred day simple moving average is $8.84.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be issued a dividend of $0.036 per share. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, July 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC purchased a new stake in PIMCO California Municipal Income Fund in the fourth quarter valued at about $27,000. Elyxium Wealth LLC acquired a new position in shares of PIMCO California Municipal Income Fund during the fourth quarter valued at about $43,000. Farther Finance Advisors LLC raised its position in shares of PIMCO California Municipal Income Fund by 107.6% in the 4th quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock valued at $56,000 after purchasing an additional 3,350 shares during the last quarter. Baird Financial Group Inc. purchased a new position in shares of PIMCO California Municipal Income Fund in the 2nd quarter valued at approximately $87,000. Finally, Granite Investment Partners LLC acquired a new stake in PIMCO California Municipal Income Fund in the 1st quarter worth approximately $104,000.

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.