PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Up 252.6% in March

PIMCO California Municipal Income Fund (NYSE:PCQ) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 34,200 shares, an increase of 252.6% from the March 15th total of 9,700 shares. Based on an average daily trading volume, of 81,800 shares, the short-interest ratio is currently 0.4 days.

PIMCO California Municipal Income Fund Stock Up 0.0 %

PCQ stock opened at $8.30 on Thursday. PIMCO California Municipal Income Fund has a one year low of $8.13 and a one year high of $10.24. The firm’s 50 day moving average price is $8.94 and its 200-day moving average price is $9.30.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.036 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 5.20%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its holdings in PIMCO California Municipal Income Fund by 30.5% during the 4th quarter. Advisors Asset Management Inc. now owns 527,275 shares of the investment management company’s stock worth $4,767,000 after acquiring an additional 123,183 shares in the last quarter. Rivernorth Capital Management LLC boosted its holdings in PIMCO California Municipal Income Fund by 40.3% in the 3rd quarter. Rivernorth Capital Management LLC now owns 330,170 shares of the investment management company’s stock valued at $3,288,000 after purchasing an additional 94,829 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in PIMCO California Municipal Income Fund by 24.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 283,541 shares of the investment management company’s stock worth $2,563,000 after buying an additional 56,300 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in PIMCO California Municipal Income Fund in the fourth quarter valued at $485,000. Finally, Nomura Holdings Inc. purchased a new position in PIMCO California Municipal Income Fund during the 4th quarter valued at about $271,000.

About PIMCO California Municipal Income Fund

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