PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Passes Below 200 Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund III (NYSE:PZC)’s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.07 and traded as low as $6.59. PIMCO California Municipal Income Fund III shares last traded at $6.60, with a volume of 89,197 shares trading hands.

PIMCO California Municipal Income Fund III Price Performance

The business has a 50-day moving average of $6.77 and a 200 day moving average of $7.07.

PIMCO California Municipal Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Trading of PIMCO California Municipal Income Fund III

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Beta Wealth Group Inc. bought a new stake in PIMCO California Municipal Income Fund III during the 4th quarter worth approximately $142,000. Wolverine Asset Management LLC increased its holdings in PIMCO California Municipal Income Fund III by 40.0% during the 4th quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock worth $857,000 after purchasing an additional 35,672 shares in the last quarter. Intellectus Partners LLC increased its holdings in PIMCO California Municipal Income Fund III by 17.3% during the 4th quarter. Intellectus Partners LLC now owns 44,000 shares of the investment management company’s stock worth $304,000 after purchasing an additional 6,500 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in PIMCO California Municipal Income Fund III by 19.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock worth $2,715,000 after purchasing an additional 63,236 shares in the last quarter. Finally, Conrad Siegel Investment Advisors Inc. bought a new stake in PIMCO California Municipal Income Fund III during the 4th quarter worth approximately $80,000.

PIMCO California Municipal Income Fund III Company Profile

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