PIMCO California Municipal Income Fund (NYSE:PCQ) Sees Significant Decrease in Short Interest

PIMCO California Municipal Income Fund (NYSE:PCQ) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 78,576 shares, a drop of 44.5% from the May 31st total of 141,651 shares. Based on an average trading volume of 158,602 shares, the short-interest ratio is currently 0.5 days.

PIMCO California Municipal Income Fund Stock Performance

Shares of PCQ stock opened at $8.98 on Friday. The firm’s 50 day moving average price is $8.82 and its 200-day moving average price is $8.83. PIMCO California Municipal Income Fund has a one year low of $8.16 and a one year high of $9.19.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be paid a dividend of $0.036 per share. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, July 13th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

A number of institutional investors have recently modified their holdings of PCQ. Smartleaf Asset Management LLC purchased a new stake in shares of PIMCO California Municipal Income Fund in the 4th quarter valued at $27,000. Elyxium Wealth LLC acquired a new position in PIMCO California Municipal Income Fund in the 4th quarter valued at about $43,000. Tortoise Investment Management LLC acquired a new position in PIMCO California Municipal Income Fund in the 3rd quarter valued at about $55,000. Farther Finance Advisors LLC increased its stake in PIMCO California Municipal Income Fund by 107.6% during the fourth quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock worth $56,000 after purchasing an additional 3,350 shares during the period. Finally, Baird Financial Group Inc. purchased a new stake in PIMCO California Municipal Income Fund during the second quarter worth about $87,000.

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.