PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.75 and traded as low as $8.23. PIMCO California Municipal Income Fund shares last traded at $8.2850, with a volume of 236,721 shares changing hands.

PIMCO California Municipal Income Fund Stock Performance

The firm has a 50 day simple moving average of $8.65 and a two-hundred day simple moving average of $8.74.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.036 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, September 11th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Several institutional investors have recently bought and sold shares of PCQ. Granite Investment Partners LLC bought a new position in PIMCO California Municipal Income Fund in the 1st quarter valued at about $104,000. Pure Financial Advisors LLC acquired a new stake in shares of PIMCO California Municipal Income Fund in the 2nd quarter worth approximately $111,000. Pasadena Private Wealth LLC bought a new position in shares of PIMCO California Municipal Income Fund in the fourth quarter valued at approximately $109,000. Tortoise Investment Management LLC bought a new position in shares of PIMCO California Municipal Income Fund in the second quarter valued at approximately $124,000. Finally, Seamount Financial Group Inc. acquired a new position in shares of PIMCO California Municipal Income Fund during the first quarter valued at approximately $124,000.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.