PIMCO California Municipal Income Fund III (NYSE:PZC) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

PIMCO California Municipal Income Fund III (NYSE:PZC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.90 and traded as low as $6.18. PIMCO California Municipal Income Fund III shares last traded at $6.21, with a volume of 28,193 shares trading hands.

PIMCO California Municipal Income Fund III Stock Up 0.2 %

The stock has a 50 day simple moving average of $6.61 and a 200-day simple moving average of $6.89.

PIMCO California Municipal Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.0295 dividend. This represents a $0.35 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend is Friday, April 11th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

Several institutional investors have recently bought and sold shares of PZC. Advisors Asset Management Inc. raised its position in shares of 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 buying an additional 27,318 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in PIMCO California Municipal Income Fund III by 2.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 403,691 shares of the investment management company’s stock valued at $2,632,000 after buying an additional 8,512 shares in the last quarter. Wolverine Asset Management LLC grew its stake in PIMCO California Municipal Income Fund III by 40.0% in the 4th quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock worth $857,000 after acquiring an additional 35,672 shares in the last quarter. Logan Stone Capital LLC increased its position in shares of PIMCO California Municipal Income Fund III by 332.4% during 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 period. Finally, Raymond James Financial Inc. purchased a new stake in shares of PIMCO California Municipal Income Fund III in the fourth quarter valued at approximately $338,000.

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.