PIMCO Municipal Income Fund III (NYSE:PMX) Short Interest Up 69.7% in April

PIMCO Municipal Income Fund III (NYSE:PMX) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 125,400 shares, an increase of 69.7% from the March 31st total of 73,900 shares. Based on an average daily trading volume, of 102,700 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On PIMCO Municipal Income Fund III

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMX. Bank of New York Mellon Corp raised its stake in PIMCO Municipal Income Fund III by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 88,456 shares of the investment management company’s stock valued at $572,000 after buying an additional 2,047 shares during the last quarter. Park Avenue Securities LLC raised its stake in PIMCO Municipal Income Fund III by 2.5% in the third quarter. Park Avenue Securities LLC now owns 117,104 shares of the investment management company’s stock valued at $758,000 after buying an additional 2,823 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in PIMCO Municipal Income Fund III in the third quarter valued at about $154,000. Ackerman Capital Advisors LLC purchased a new stake in PIMCO Municipal Income Fund III in the third quarter valued at about $306,000. Finally, Centurion Wealth Management LLC purchased a new stake in PIMCO Municipal Income Fund III in the third quarter valued at about $82,000.

PIMCO Municipal Income Fund III Trading Up 0.1 %

PIMCO Municipal Income Fund III stock opened at $7.52 on Friday. The stock has a 50-day moving average of $7.48 and a two-hundred day moving average of $7.26. PIMCO Municipal Income Fund III has a one year low of $6.09 and a one year high of $8.22.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Thursday, April 11th will be paid a $0.033 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Wednesday, April 10th.

About PIMCO Municipal Income Fund III

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.