PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.54 and traded as low as $9.18. PIMCO California Municipal Income Fund shares last traded at $9.21, with a volume of 35,210 shares.

PIMCO California Municipal Income Fund Stock Down 0.2 %

The business has a 50 day moving average of $9.16 and a 200 day moving average of $9.54.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th will be given a dividend of $0.036 per share. This represents a $0.43 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend is Thursday, February 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Morse Asset Management Inc bought a new stake in shares of PIMCO California Municipal Income Fund during the 3rd quarter valued at about $136,000. Virtu Financial LLC bought a new stake in PIMCO California Municipal Income Fund in the 3rd quarter worth approximately $250,000. Rockefeller Capital Management L.P. bought a new stake in PIMCO California Municipal Income Fund in the 3rd quarter worth approximately $269,000. Bank of New York Mellon Corp bought a new position in shares of PIMCO California Municipal Income Fund during the 4th quarter valued at approximately $485,000. Finally, LPL Financial LLC grew its position in PIMCO California Municipal Income Fund by 2.7% in the 4th quarter. LPL Financial LLC now owns 99,513 shares of the investment management company’s stock valued at $900,000 after acquiring an additional 2,635 shares during 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.