PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

PIMCO California Municipal Income Fund III (NYSE:PZC) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.03 and traded as low as $6.51. PIMCO California Municipal Income Fund III shares last traded at $6.52, with a volume of 93,611 shares trading hands.

PIMCO California Municipal Income Fund III Stock Down 0.8 %

The firm has a 50 day moving average of $6.75 and a 200-day moving average of $7.03.

PIMCO California Municipal Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.0295 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Conrad Siegel Investment Advisors Inc. bought a new stake in shares of PIMCO California Municipal Income Fund III in the 4th quarter valued at about $80,000. Hennion & Walsh Asset Management Inc. raised its stake in PIMCO California Municipal Income Fund III by 19.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock worth $2,715,000 after buying an additional 63,236 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in PIMCO California Municipal Income Fund III during the fourth quarter worth $29,000. Beta Wealth Group Inc. purchased a new stake in PIMCO California Municipal Income Fund III during the fourth quarter worth $142,000. Finally, Wolverine Asset Management LLC boosted its position in PIMCO California Municipal Income Fund III by 40.0% during the 4th quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock valued at $857,000 after acquiring an additional 35,672 shares in 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.