PIMCO California Municipal Income Fund III (NYSE:PZC) Shares Cross Below 200-Day Moving Average – Here’s Why

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.23 and traded as low as $6.72. PIMCO California Municipal Income Fund III shares last traded at $6.72, with a volume of 118,575 shares trading hands.

PIMCO California Municipal Income Fund III Stock Down 2.0 %

The company’s fifty day moving average price is $7.02 and its 200-day moving average price is $7.23.

PIMCO California Municipal Income Fund III Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a $0.0295 dividend. This represents a $0.35 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Monday, January 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

A number of large investors have recently bought and sold shares of PZC. Intellectus Partners LLC increased its position in shares of PIMCO California Municipal Income Fund III by 7.1% during the third quarter. Intellectus Partners LLC now owns 37,500 shares of the investment management company’s stock worth $282,000 after acquiring an additional 2,500 shares during the period. Farther Finance Advisors LLC purchased a new stake in shares of PIMCO California Municipal Income Fund III in the third quarter valued at approximately $38,000. Logan Stone Capital LLC bought a new position in PIMCO California Municipal Income Fund III in the second quarter worth approximately $83,000. Landscape Capital Management L.L.C. increased its holdings in PIMCO California Municipal Income Fund III by 15.8% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 100,858 shares of the investment management company’s stock worth $756,000 after purchasing an additional 13,750 shares during the period. Finally, Wolverine Asset Management LLC raised its position in PIMCO California Municipal Income Fund III by 183.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 89,146 shares of the investment management company’s stock valued at $669,000 after purchasing an additional 57,741 shares in the last quarter.

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.