PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Update

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PIMCO California Municipal Income Fund (NYSE:PCQGet Rating) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 37,300 shares, a decrease of 46.5% from the May 15th total of 69,700 shares. Based on an average daily trading volume, of 36,000 shares, the short-interest ratio is presently 1.0 days.

Shares of NYSE:PCQ traded up $0.27 during trading on Monday, reaching $16.09. 640 shares of the company’s stock traded hands, compared to its average volume of 33,859. PIMCO California Municipal Income Fund has a 12 month low of $13.40 and a 12 month high of $20.19. The company has a 50 day moving average of $15.25 and a 200-day moving average of $16.54.

The company also recently announced a monthly dividend, which will be paid on Friday, July 1st. Shareholders of record on Monday, June 13th will be given a $0.065 dividend. This represents a $0.78 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Friday, June 10th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG grew its position in PIMCO California Municipal Income Fund by 2.8% in the 3rd quarter. UBS Group AG now owns 36,763 shares of the investment management company’s stock worth $695,000 after purchasing an additional 995 shares during the last quarter. Spire Wealth Management bought a new position in PIMCO California Municipal Income Fund in the 4th quarter worth about $25,000. Wells Fargo & Company MN boosted its holdings in shares of PIMCO California Municipal Income Fund by 7.2% in the second quarter. Wells Fargo & Company MN now owns 19,960 shares of the investment management company’s stock valued at $380,000 after acquiring an additional 1,344 shares in the last quarter. CWM LLC bought a new position in shares of PIMCO California Municipal Income Fund in the fourth quarter valued at approximately $37,000. Finally, D.A. Davidson & CO. boosted its holdings in shares of PIMCO California Municipal Income Fund by 12.7% in the first quarter. D.A. Davidson & CO. now owns 26,525 shares of the investment management company’s stock valued at $416,000 after acquiring an additional 2,985 shares in the last quarter.

About PIMCO California Municipal Income Fund (Get Rating)

PIMCO California Municipal Income Fund 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 of the United States. It seeks to invest in stocks of companies operating across diversified sectors.

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