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

PIMCO California Municipal Income Fund III (NYSE:PZC) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 29,800 shares, a drop of 19.5% from the February 28th total of 37,000 shares. Based on an average daily volume of 80,700 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

A number of institutional investors have recently made changes to their positions in PZC. Advisors Asset Management Inc. boosted its stake in PIMCO California Municipal Income Fund III by 5.4% during the 4th quarter. Advisors Asset Management Inc. now owns 534,209 shares of the investment management company’s stock valued at $3,670,000 after purchasing an additional 27,318 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of PIMCO California Municipal Income Fund III by 19.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock worth $2,715,000 after buying an additional 63,236 shares during the last quarter. Wolverine Asset Management LLC boosted its position in shares of PIMCO California Municipal Income Fund III by 40.0% in the fourth quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock valued at $857,000 after acquiring an additional 35,672 shares during the period. Logan Stone Capital LLC grew its stake in shares of PIMCO California Municipal Income Fund III by 332.4% in the fourth quarter. Logan Stone Capital LLC now owns 115,841 shares of the investment management company’s stock worth $796,000 after acquiring an additional 89,050 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in PIMCO California Municipal Income Fund III during the fourth quarter worth $338,000.

PIMCO California Municipal Income Fund III Price Performance

Shares of NYSE PZC traded up $0.08 during trading hours on Tuesday, hitting $6.60. 123,787 shares of the stock were exchanged, compared to its average volume of 63,445. PIMCO California Municipal Income Fund III has a one year low of $6.48 and a one year high of $7.67. The company’s 50 day moving average is $6.75 and its 200 day moving average is $7.02.

PIMCO California Municipal Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.0295 per share. This represents a $0.35 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Thursday, March 13th.

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.