Smith Moore & CO. Acquires 46,724 Shares of PIMCO Municipal Income Fund III (NYSE:PMX)

Smith Moore & CO. raised its stake in shares of PIMCO Municipal Income Fund III (NYSE:PMX) by 53.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,609 shares of the investment management company’s stock after buying an additional 46,724 shares during the quarter. Smith Moore & CO.’s holdings in PIMCO Municipal Income Fund III were worth $983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in PIMCO Municipal Income Fund III during the fourth quarter valued at $67,000. Permanent Capital Management LP bought a new position in shares of PIMCO Municipal Income Fund III during the 4th quarter valued at about $92,000. Ellis Investment Partners LLC grew its position in shares of PIMCO Municipal Income Fund III by 29.5% during the fourth quarter. Ellis Investment Partners LLC now owns 12,954 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 2,954 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of PIMCO Municipal Income Fund III in the fourth quarter worth about $103,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of PIMCO Municipal Income Fund III in the fourth quarter worth about $113,000.

PIMCO Municipal Income Fund III Stock Performance

NYSE PMX opened at $7.07 on Friday. PIMCO Municipal Income Fund III has a 1-year low of $7.06 and a 1-year high of $8.52. The business has a 50 day simple moving average of $7.34 and a two-hundred day simple moving average of $7.62.

PIMCO Municipal Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.033 dividend. This represents a $0.40 annualized dividend and a yield of 5.60%. The ex-dividend date is Friday, April 11th.

About PIMCO Municipal Income Fund III

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.