PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Passes Below Fifty Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.96 and traded as low as $8.85. PIMCO California Municipal Income Fund shares last traded at $8.8650, with a volume of 159,639 shares trading hands.

PIMCO California Municipal Income Fund Price Performance

The firm has a 50 day moving average price of $8.96 and a two-hundred day moving average price of $8.80.

PIMCO California Municipal Income Fund Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of PIMCO California Municipal Income Fund by 179.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,114 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 2,000 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of PIMCO California Municipal Income Fund during the third quarter worth $27,000. Smartleaf Asset Management LLC bought a new position in PIMCO California Municipal Income Fund during the fourth quarter worth $27,000. Elyxium Wealth LLC bought a new position in PIMCO California Municipal Income Fund during the fourth quarter worth $43,000. Finally, Tortoise Investment Management LLC acquired a new position in PIMCO California Municipal Income Fund in the third quarter valued at $55,000.

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.