PIMCO Municipal Income Fund (NYSE:PMF) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

PIMCO Municipal Income Fund (NYSE:PMF)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.48 and traded as low as $9.24. PIMCO Municipal Income Fund shares last traded at $9.27, with a volume of 49,030 shares changing hands.

PIMCO Municipal Income Fund Stock Down 1.0 %

The business’s 50 day moving average is $9.08 and its 200-day moving average is $9.48.

PIMCO Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.042 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Thursday, February 13th.

Hedge Funds Weigh In On PIMCO Municipal Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Summit X LLC raised its stake in shares of PIMCO Municipal Income Fund by 18.9% in the fourth quarter. Summit X LLC now owns 25,918 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 4,111 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of PIMCO Municipal Income Fund in the third quarter worth $93,000. Van ECK Associates Corp raised its position in PIMCO Municipal Income Fund by 9.3% during the third quarter. Van ECK Associates Corp now owns 125,388 shares of the financial services provider’s stock worth $1,219,000 after acquiring an additional 10,721 shares in the last quarter. Traynor Capital Management Inc. increased its holdings in shares of PIMCO Municipal Income Fund by 12.4% in the third quarter. Traynor Capital Management Inc. now owns 151,617 shares of the financial services provider’s stock valued at $1,565,000 after purchasing an additional 16,746 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of PIMCO Municipal Income Fund by 8.4% in the third quarter. Captrust Financial Advisors now owns 233,128 shares of the financial services provider’s stock valued at $2,406,000 after purchasing an additional 18,055 shares during the last quarter.

About PIMCO Municipal Income Fund

PIMCO 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 the fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.