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

PIMCO California Municipal Income Fund II (NYSE:PCK)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.96 and traded as low as $5.59. PIMCO California Municipal Income Fund II shares last traded at $5.63, with a volume of 393,256 shares.

PIMCO California Municipal Income Fund II Trading Down 2.3 %

The company has a fifty day moving average price of $5.86 and a two-hundred day moving average price of $5.96.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be issued a $0.0215 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Monday, January 13th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PCK. Rockefeller Capital Management L.P. acquired a new position in PIMCO California Municipal Income Fund II in the third quarter valued at approximately $547,000. City of London Investment Management Co. Ltd. lifted its holdings in PIMCO California Municipal Income Fund II by 29.9% in the second quarter. City of London Investment Management Co. Ltd. now owns 267,495 shares of the closed-end fund’s stock valued at $1,565,000 after acquiring an additional 61,501 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in PIMCO California Municipal Income Fund II by 12.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 548,303 shares of the closed-end fund’s stock valued at $3,443,000 after acquiring an additional 60,054 shares during the last quarter. Morse Asset Management Inc acquired a new position in PIMCO California Municipal Income Fund II in the third quarter valued at approximately $100,000. Finally, Almitas Capital LLC acquired a new position in PIMCO California Municipal Income Fund II in the second quarter valued at approximately $64,000.

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.