PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.51 and traded as low as $9.20. PIMCO California Municipal Income Fund shares last traded at $9.24, with a volume of 73,172 shares trading hands.

PIMCO California Municipal Income Fund Trading Up 0.5 %

The firm’s 50-day simple moving average is $9.07 and its 200 day simple moving average is $9.51.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be paid a $0.036 dividend. This represents a $0.43 annualized dividend and a yield of 4.65%. The ex-dividend date is Thursday, February 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morse Asset Management Inc acquired a new stake in shares of PIMCO California Municipal Income Fund in the 3rd quarter valued at approximately $136,000. Saba Capital Management L.P. acquired a new position in PIMCO California Municipal Income Fund during the fourth quarter valued at approximately $150,000. Virtu Financial LLC bought a new stake in PIMCO California Municipal Income Fund in the third quarter valued at approximately $250,000. Citadel Advisors LLC acquired a new stake in PIMCO California Municipal Income Fund in the fourth quarter worth $253,000. Finally, Wedbush Securities Inc. boosted its position in shares of PIMCO California Municipal Income Fund by 12.3% during the fourth quarter. Wedbush Securities Inc. now owns 29,044 shares of the investment management company’s stock worth $263,000 after purchasing an additional 3,192 shares in the last quarter.

PIMCO California Municipal Income Fund Company Profile

PIMCO California Municipal Income Fund 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 of the United States. It seeks to invest in stocks of companies operating across diversified sectors.