PIMCO California Municipal Income Fund (NYSE:PCQ) Shares Cross Above 50-Day Moving Average – Time to Sell?

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.81 and traded as high as $10.15. PIMCO California Municipal Income Fund shares last traded at $10.08, with a volume of 24,650 shares.

PIMCO California Municipal Income Fund Price Performance

The firm’s 50-day simple moving average is $9.81 and its 200-day simple moving average is $9.49.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be issued a $0.036 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 4.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PCQ. Nomura Holdings Inc. bought a new position in shares of PIMCO California Municipal Income Fund during the 4th quarter worth $97,000. Mechanics Bank Trust Department bought a new position in PIMCO California Municipal Income Fund during the 1st quarter worth about $104,000. Mercer Global Advisors Inc. ADV purchased a new position in PIMCO California Municipal Income Fund during the 2nd quarter valued at about $115,000. Wedbush Securities Inc. increased its position in PIMCO California Municipal Income Fund by 22.5% during the 2nd quarter. Wedbush Securities Inc. now owns 21,841 shares of the investment management company’s stock valued at $206,000 after purchasing an additional 4,012 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of PIMCO California Municipal Income Fund by 12.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,000 shares of the investment management company’s stock valued at $217,000 after purchasing an additional 2,500 shares in the last quarter.

About PIMCO California Municipal Income Fund

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.