PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Passes Above 50 Day Moving Average of $7.12

PIMCO California Municipal Income Fund III (NYSE:PZC) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.12 and traded as high as $7.24. PIMCO California Municipal Income Fund III shares last traded at $7.18, with a volume of 56,668 shares traded.

PIMCO California Municipal Income Fund III Stock Down 0.6 %

The company has a 50-day moving average price of $7.12 and a two-hundred day moving average price of $7.34.

PIMCO California Municipal Income Fund III Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, June 13th will be given a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Thursday, June 13th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its holdings in PIMCO California Municipal Income Fund III by 12.8% in the first quarter. Advisors Asset Management Inc. now owns 654,727 shares of the investment management company’s stock valued at $4,969,000 after purchasing an additional 74,055 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in PIMCO California Municipal Income Fund III by 5.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 483,955 shares of the investment management company’s stock valued at $3,673,000 after purchasing an additional 25,453 shares during the last quarter. Spire Wealth Management purchased a new position in PIMCO California Municipal Income Fund III in the fourth quarter valued at about $50,000. Wolverine Asset Management LLC purchased a new position in PIMCO California Municipal Income Fund III in the fourth quarter valued at about $253,000. Finally, Raymond James & Associates boosted its holdings in PIMCO California Municipal Income Fund III by 40.6% in the fourth quarter. Raymond James & Associates now owns 48,500 shares of the investment management company’s stock valued at $357,000 after purchasing an additional 14,000 shares during 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.