PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.11 and traded as low as $6.87. PIMCO California Municipal Income Fund III shares last traded at $6.90, with a volume of 108,806 shares traded.

PIMCO California Municipal Income Fund III Trading Down 0.4 %

The firm has a 50-day moving average price of $6.80 and a two-hundred day moving average price of $7.11.

PIMCO California Municipal Income Fund III Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.0295 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.35 annualized dividend and a dividend yield of 5.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Logan Stone Capital LLC boosted its position in PIMCO California Municipal Income Fund III by 332.4% during the fourth quarter. Logan Stone Capital LLC now owns 115,841 shares of the investment management company’s stock valued at $796,000 after purchasing an additional 89,050 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in PIMCO California Municipal Income Fund III by 19.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock valued at $2,715,000 after purchasing an additional 63,236 shares during the last quarter. Wolverine Asset Management LLC boosted its position in PIMCO California Municipal Income Fund III by 183.9% during the third quarter. Wolverine Asset Management LLC now owns 89,146 shares of the investment management company’s stock valued at $669,000 after purchasing an additional 57,741 shares during the last quarter. Raymond James Financial Inc. acquired a new position in PIMCO California Municipal Income Fund III during the fourth quarter valued at approximately $338,000. Finally, Bank of New York Mellon Corp acquired a new position in PIMCO California Municipal Income Fund III during the fourth quarter valued at approximately $249,000.

PIMCO California Municipal Income Fund III Company Profile

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.