Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Drops By 13.5%

PIMCO California Municipal Income Fund II (NYSE:PCK) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 34,600 shares, a decline of 13.5% from the May 31st total of 40,000 shares. Based on an average trading volume of 70,700 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SageView Advisory Group LLC purchased a new position in shares of PIMCO California Municipal Income Fund II in the 1st quarter valued at about $59,000. D.A. Davidson & CO. increased its position in shares of PIMCO California Municipal Income Fund II by 21.7% in the fourth quarter. D.A. Davidson & CO. now owns 12,553 shares of the closed-end fund’s stock valued at $73,000 after buying an additional 2,238 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth approximately $74,000. Cetera Advisors LLC purchased a new position in shares of PIMCO California Municipal Income Fund II during the 1st quarter valued at approximately $74,000. Finally, Summit Trail Advisors LLC acquired a new stake in PIMCO California Municipal Income Fund II in the 4th quarter valued at $79,000.

PIMCO California Municipal Income Fund II Stock Up 0.2 %

Shares of NYSE PCK opened at $5.85 on Friday. The firm’s 50 day simple moving average is $5.80 and its 200-day simple moving average is $5.78. PIMCO California Municipal Income Fund II has a 12 month low of $4.85 and a 12 month high of $6.07.

PIMCO California Municipal Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Thursday, June 13th will be issued a $0.022 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.26 dividend on an annualized basis and a yield of 4.51%.

PIMCO California Municipal Income Fund II Company Profile

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.