PIMCO California Municipal Income Fund II (NYSE:PCK) Short Interest Up 34.6% in February

PIMCO California Municipal Income Fund II (NYSE:PCK) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 52,900 shares, an increase of 34.6% from the January 31st total of 39,300 shares. Based on an average daily trading volume, of 141,700 shares, the short-interest ratio is currently 0.4 days.

PIMCO California Municipal Income Fund II Stock Performance

PIMCO California Municipal Income Fund II stock opened at $5.91 on Thursday. The firm has a 50-day moving average of $5.77 and a 200-day moving average of $5.93. PIMCO California Municipal Income Fund II has a one year low of $5.50 and a one year high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a $0.0215 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.37%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund II

A number of institutional investors and hedge funds have recently modified their holdings of the company. Saba Capital Management L.P. raised its holdings in shares of PIMCO California Municipal Income Fund II by 12.1% in the 4th quarter. Saba Capital Management L.P. now owns 1,417,456 shares of the closed-end fund’s stock valued at $8,108,000 after purchasing an additional 152,715 shares during the period. Morse Asset Management Inc raised its holdings in shares of PIMCO California Municipal Income Fund II by 52.5% in the 4th quarter. Morse Asset Management Inc now owns 24,401 shares of the closed-end fund’s stock valued at $140,000 after purchasing an additional 8,399 shares during the period. Logan Stone Capital LLC raised its holdings in shares of PIMCO California Municipal Income Fund II by 22.9% in the 4th quarter. Logan Stone Capital LLC now owns 315,434 shares of the closed-end fund’s stock valued at $1,804,000 after purchasing an additional 58,751 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of PIMCO California Municipal Income Fund II in the 4th quarter valued at about $401,000. Finally, Citadel Advisors LLC bought a new stake in shares of PIMCO California Municipal Income Fund II in the 4th quarter valued at about $75,000.

PIMCO California Municipal Income Fund II Company Profile

PIMCO California Municipal Income Fund II 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 United States. It seeks to invest in stocks of companies operating across diversified sectors.