PIMCO California Municipal Income Fund III (NYSE:PZC) Sees Large Drop in Short Interest

PIMCO California Municipal Income Fund III (NYSE:PZC) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 53,200 shares, a decrease of 48.1% from the February 29th total of 102,500 shares. Based on an average daily trading volume, of 51,000 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of PIMCO California Municipal Income Fund III

A number of hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new position in shares of PIMCO California Municipal Income Fund III in the 2nd quarter valued at $41,000. Spire Wealth Management acquired a new position in shares of PIMCO California Municipal Income Fund III in the 4th quarter valued at $50,000. Lido Advisors LLC acquired a new position in shares of PIMCO California Municipal Income Fund III in the 1st quarter valued at $78,000. Royal Bank of Canada raised its stake in shares of PIMCO California Municipal Income Fund III by 22.9% in the 2nd quarter. Royal Bank of Canada now owns 11,548 shares of the investment management company’s stock valued at $89,000 after buying an additional 2,150 shares in the last quarter. Finally, Bramshill Investments LLC acquired a new stake in shares of PIMCO California Municipal Income Fund III during the 3rd quarter worth about $104,000.

PIMCO California Municipal Income Fund III Price Performance

Shares of NYSE PZC traded down $0.12 during trading hours on Thursday, hitting $7.59. 38,729 shares of the stock were exchanged, compared to its average volume of 44,659. PIMCO California Municipal Income Fund III has a one year low of $6.30 and a one year high of $8.20. The company’s 50 day moving average is $7.56 and its 200 day moving average is $7.20.

PIMCO California Municipal Income Fund III Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be issued a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Friday, March 8th.

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.