PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Update

PIMCO California Municipal Income Fund (NYSE:PCQ) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 8,300 shares, a growth of 1,085.7% from the August 15th total of 700 shares. Based on an average daily volume of 53,700 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCQ. Fiera Capital Corp purchased a new stake in PIMCO California Municipal Income Fund in the 4th quarter worth approximately $3,614,000. Hennion & Walsh Asset Management Inc. raised its holdings in PIMCO California Municipal Income Fund by 80.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 186,292 shares of the investment management company’s stock worth $1,755,000 after purchasing an additional 82,835 shares during the period. Advisors Asset Management Inc. increased its position in shares of PIMCO California Municipal Income Fund by 26.4% in the first quarter. Advisors Asset Management Inc. now owns 287,719 shares of the investment management company’s stock valued at $2,693,000 after buying an additional 60,117 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of PIMCO California Municipal Income Fund during the 2nd quarter worth approximately $115,000. Finally, Mechanics Bank Trust Department purchased a new position in shares of PIMCO California Municipal Income Fund during the 1st quarter valued at approximately $104,000.

PIMCO California Municipal Income Fund Stock Performance

PIMCO California Municipal Income Fund stock remained flat at $9.94 during mid-day trading on Friday. 26,065 shares of the company’s stock were exchanged, compared to its average volume of 58,094. The company has a fifty day moving average price of $9.52 and a two-hundred day moving average price of $9.38. PIMCO California Municipal Income Fund has a twelve month low of $8.19 and a twelve month high of $10.02.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.036 dividend. This represents a $0.43 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Friday, September 13th.

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.