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

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.83 and traded as low as $8.81. PIMCO California Municipal Income Fund shares last traded at $8.8610, with a volume of 156,292 shares.

PIMCO California Municipal Income Fund Stock Down 0.5%

The stock has a 50 day moving average price of $8.97 and a two-hundred day moving average price of $8.83.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be given a $0.036 dividend. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, March 12th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of large investors have recently modified their holdings of PCQ. Matisse Capital increased its holdings in shares of PIMCO California Municipal Income Fund by 508.2% in the third quarter. Matisse Capital now owns 920,318 shares of the investment management company’s stock valued at $8,025,000 after purchasing an additional 769,012 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in PIMCO California Municipal Income Fund by 171.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,160,051 shares of the investment management company’s stock worth $10,116,000 after buying an additional 733,431 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in PIMCO California Municipal Income Fund by 184.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,060,098 shares of the investment management company’s stock valued at $9,244,000 after buying an additional 686,781 shares during the last quarter. Almitas Capital LLC increased its stake in shares of PIMCO California Municipal Income Fund by 318.7% in the 4th quarter. Almitas Capital LLC now owns 640,607 shares of the investment management company’s stock valued at $5,592,000 after buying an additional 487,609 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of PIMCO California Municipal Income Fund by 195.1% during the fourth quarter. Verition Fund Management LLC now owns 460,872 shares of the investment management company’s stock worth $4,023,000 after acquiring an additional 304,678 shares during the last quarter.

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.