Short Interest in PIMCO California Municipal Income Fund III (NYSE:PZC) Rises By 88.5%

PIMCO California Municipal Income Fund III (NYSE:PZC) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 34,300 shares, an increase of 88.5% from the January 15th total of 18,200 shares. Based on an average trading volume of 92,100 shares, the short-interest ratio is currently 0.4 days.

PIMCO California Municipal Income Fund III Stock Up 0.7 %

NYSE PZC traded up $0.05 during trading hours on Friday, reaching $6.77. 50,217 shares of the company’s stock were exchanged, compared to its average volume of 81,834. PIMCO California Municipal Income Fund III has a one year low of $6.60 and a one year high of $7.90. The firm has a fifty day moving average of $6.82 and a 200-day moving average of $7.14.

PIMCO California Municipal Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.35 dividend on an annualized basis and a yield of 5.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Intellectus Partners LLC boosted its position in PIMCO California Municipal Income Fund III by 7.1% in the 3rd quarter. Intellectus Partners LLC now owns 37,500 shares of the investment management company’s stock valued at $282,000 after buying an additional 2,500 shares during the last quarter. Golden State Wealth Management LLC bought a new position in PIMCO California Municipal Income Fund III in the 4th quarter valued at $29,000. Farther Finance Advisors LLC bought a new position in PIMCO California Municipal Income Fund III in the 3rd quarter valued at $38,000. Conrad Siegel Investment Advisors Inc. bought a new position in PIMCO California Municipal Income Fund III in the 4th quarter valued at $80,000. Finally, Wells Fargo & Company MN boosted its position in shares of PIMCO California Municipal Income Fund III by 45.2% in the 4th quarter. Wells Fargo & Company MN now owns 38,979 shares of the investment management company’s stock worth $268,000 after purchasing an additional 12,142 shares during the last quarter.

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.