Commonwealth Equity Services LLC Sells 5,972 Shares of PIMCO Municipal Income Fund III (NYSE:PMX)

Commonwealth Equity Services LLC lowered its position in shares of PIMCO Municipal Income Fund III (NYSE:PMX) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,489 shares of the investment management company’s stock after selling 5,972 shares during the period. Commonwealth Equity Services LLC’s holdings in PIMCO Municipal Income Fund III were worth $188,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in shares of PIMCO Municipal Income Fund III by 35.0% in the 4th quarter. HighTower Advisors LLC now owns 32,756 shares of the investment management company’s stock worth $241,000 after buying an additional 8,500 shares during the last quarter. Permanent Capital Management LP purchased a new stake in PIMCO Municipal Income Fund III during the 4th quarter valued at about $92,000. Raymond James Financial Inc. purchased a new position in PIMCO Municipal Income Fund III in the fourth quarter worth about $1,287,000. Noble Wealth Management PBC bought a new position in shares of PIMCO Municipal Income Fund III in the fourth quarter worth approximately $103,000. Finally, Wakefield Asset Management LLLP grew its holdings in shares of PIMCO Municipal Income Fund III by 4.1% during the fourth quarter. Wakefield Asset Management LLLP now owns 113,528 shares of the investment management company’s stock valued at $836,000 after buying an additional 4,442 shares during the last quarter.

PIMCO Municipal Income Fund III Price Performance

Shares of PMX opened at $6.61 on Friday. PIMCO Municipal Income Fund III has a twelve month low of $6.37 and a twelve month high of $8.52. The firm has a 50 day moving average of $7.25 and a 200 day moving average of $7.56.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.033 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Friday, April 11th.

PIMCO Municipal Income Fund III Company Profile

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and 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. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.