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

PIMCO California Municipal Income Fund III (NYSE:PZC) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.15 and traded as low as $6.80. PIMCO California Municipal Income Fund III shares last traded at $6.82, with a volume of 38,866 shares trading hands.

PIMCO California Municipal Income Fund III Stock Down 0.4 %

The business’s 50 day moving average is $6.86 and its two-hundred day moving average is $7.15.

PIMCO California Municipal Income Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be given a $0.0295 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.19%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of PIMCO California Municipal Income Fund III during the fourth quarter valued at about $86,000. Advisors Asset Management Inc. lifted its position in shares of PIMCO California Municipal Income Fund III by 5.4% in the 4th quarter. Advisors Asset Management Inc. now owns 534,209 shares of the investment management company’s stock worth $3,670,000 after purchasing an additional 27,318 shares during the period. Intellectus Partners LLC boosted its stake in shares of PIMCO California Municipal Income Fund III by 17.3% during the 4th quarter. Intellectus Partners LLC now owns 44,000 shares of the investment management company’s stock valued at $304,000 after purchasing an additional 6,500 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of PIMCO California Municipal Income Fund III during the fourth quarter valued at about $338,000. Finally, Bank of New York Mellon Corp bought a new position in PIMCO California Municipal Income Fund III in the fourth quarter worth about $249,000.

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.