PIMCO California Municipal Income Fund III (NYSE:PZC) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.23 and traded as low as $6.72. PIMCO California Municipal Income Fund III shares last traded at $6.72, with a volume of 118,575 shares trading hands.

PIMCO California Municipal Income Fund III Price Performance

The company has a 50-day moving average price of $7.02 and a 200-day moving average price of $7.23.

PIMCO California Municipal Income Fund III Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be paid a $0.0295 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.27%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

Several hedge funds have recently bought and sold shares of the company. Landscape Capital Management L.L.C. increased its stake in PIMCO California Municipal Income Fund III by 15.8% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 100,858 shares of the investment management company’s stock worth $756,000 after purchasing an additional 13,750 shares in the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of PIMCO California Municipal Income Fund III by 183.9% in the third quarter. Wolverine Asset Management LLC now owns 89,146 shares of the investment management company’s stock valued at $669,000 after buying an additional 57,741 shares during the period. Intellectus Partners LLC increased its position in shares of PIMCO California Municipal Income Fund III by 7.1% during the third quarter. Intellectus Partners LLC now owns 37,500 shares of the investment management company’s stock worth $282,000 after acquiring an additional 2,500 shares in the last quarter. Logan Stone Capital LLC acquired a new stake in shares of PIMCO California Municipal Income Fund III during the second quarter worth $83,000. Finally, Farther Finance Advisors LLC bought a new stake in PIMCO California Municipal Income Fund III in the 3rd quarter valued at $38,000.

PIMCO California Municipal Income Fund III Company Profile

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.