PIMCO Municipal Income Fund III (NYSE:PMX) Shares Cross Above 50 Day Moving Average of $7.53

Shares of PIMCO Municipal Income Fund III (NYSE:PMX) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.53 and traded as high as $7.87. PIMCO Municipal Income Fund III shares last traded at $7.77, with a volume of 91,569 shares trading hands.

PIMCO Municipal Income Fund III Stock Performance

The firm’s 50 day moving average is $7.53 and its 200 day moving average is $7.47.

PIMCO Municipal Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, July 1st. Stockholders of record on Thursday, June 13th were issued a $0.033 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.40 annualized dividend and a dividend yield of 5.10%.

Hedge Funds Weigh In On PIMCO Municipal Income Fund III

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiera Capital Corp bought a new stake in shares of PIMCO Municipal Income Fund III during the 4th quarter valued at about $6,160,000. Advisors Asset Management Inc. lifted its position in PIMCO Municipal Income Fund III by 34.0% during the first quarter. Advisors Asset Management Inc. now owns 425,100 shares of the investment management company’s stock valued at $3,175,000 after purchasing an additional 107,839 shares during the last quarter. Gill Capital Partners LLC grew its stake in PIMCO Municipal Income Fund III by 5.4% in the 1st quarter. Gill Capital Partners LLC now owns 421,766 shares of the investment management company’s stock worth $3,125,000 after buying an additional 21,553 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of PIMCO Municipal Income Fund III by 25.4% in the 4th quarter. Van ECK Associates Corp now owns 238,955 shares of the investment management company’s stock worth $1,766,000 after buying an additional 48,431 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. purchased a new stake in shares of PIMCO Municipal Income Fund III during the 1st quarter valued at $950,000.

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.