PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.82 and traded as low as $8.81. PIMCO California Municipal Income Fund shares last traded at $8.82, with a volume of 63,055 shares traded.

PIMCO California Municipal Income Fund Stock Performance

The company’s 50-day simple moving average is $8.79 and its 200 day simple moving average is $8.82.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be given a dividend of $0.036 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PCQ. Western Wealth Management LLC bought a new position in PIMCO California Municipal Income Fund in the 1st quarter valued at $244,000. Rivernorth Capital Management LLC boosted its holdings in shares of PIMCO California Municipal Income Fund by 2.7% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,512,000 shares of the investment management company’s stock worth $21,553,000 after buying an additional 64,938 shares during the last quarter. Whitebox Advisors LLC boosted its holdings in shares of PIMCO California Municipal Income Fund by 45.5% in the 1st quarter. Whitebox Advisors LLC now owns 284,471 shares of the investment management company’s stock worth $2,441,000 after buying an additional 88,995 shares during the last quarter. Altium Capital Management LLC grew its position in PIMCO California Municipal Income Fund by 28.6% during the first quarter. Altium Capital Management LLC now owns 333,093 shares of the investment management company’s stock valued at $2,858,000 after buying an additional 74,001 shares during the period. Finally, Granite Investment Partners LLC bought a new position in PIMCO California Municipal Income Fund during the first quarter valued at about $104,000.

PIMCO California Municipal Income Fund Company Profile

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.