Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Expands By 55.1%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 67,300 shares, an increase of 55.1% from the February 28th total of 43,400 shares. Based on an average trading volume of 124,300 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PCK. Rockefeller Capital Management L.P. bought a new position in shares of PIMCO California Municipal Income Fund II during the third quarter worth about $547,000. Morse Asset Management Inc bought a new position in PIMCO California Municipal Income Fund II in the 3rd quarter worth about $100,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of PIMCO California Municipal Income Fund II by 13.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 624,074 shares of the closed-end fund’s stock valued at $3,570,000 after purchasing an additional 75,771 shares during the period. Silicon Valley Capital Partners bought a new stake in shares of PIMCO California Municipal Income Fund II during the fourth quarter valued at approximately $134,000. Finally, Abound Financial LLC acquired a new position in shares of PIMCO California Municipal Income Fund II during the fourth quarter worth approximately $113,000.

PIMCO California Municipal Income Fund II Price Performance

Shares of NYSE PCK opened at $5.66 on Tuesday. The firm’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $5.90. PIMCO California Municipal Income Fund II has a 52-week low of $5.50 and a 52-week high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.0215 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.26 dividend on an annualized basis and a yield of 4.56%.

About PIMCO California Municipal Income Fund II

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