PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Passes Below 200-Day Moving Average – Here’s Why

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.82 and traded as low as $8.81. PIMCO California Municipal Income Fund shares last traded at $8.82, with a volume of 63,055 shares changing hands.

PIMCO California Municipal Income Fund Trading Down 0.3%

The firm’s 50-day moving average price is $8.78 and its 200-day moving average price is $8.82.

PIMCO California Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be given a dividend of $0.036 per share. The ex-dividend date is Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 4.9%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Sit Investment Associates Inc. raised its position in shares of PIMCO California Municipal Income Fund by 28.7% during the fourth quarter. Sit Investment Associates Inc. now owns 391,540 shares of the investment management company’s stock valued at $3,418,000 after buying an additional 87,303 shares during the last quarter. Ackerman Capital Advisors LLC increased its position in PIMCO California Municipal Income Fund by 36.6% in the fourth quarter. Ackerman Capital Advisors LLC now owns 60,251 shares of the investment management company’s stock worth $526,000 after purchasing an additional 16,134 shares during the last quarter. Pasadena Private Wealth LLC bought a new stake in PIMCO California Municipal Income Fund in the fourth quarter worth $109,000. Blue Bell Private Wealth Management LLC increased its position in PIMCO California Municipal Income Fund by 6.8% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 28,713 shares of the investment management company’s stock worth $251,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Altium Capital Management LLC bought a new stake in PIMCO California Municipal Income Fund in the fourth quarter worth $2,262,000.

About PIMCO California Municipal Income Fund

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.