Short Interest in PIMCO California Municipal Income Fund (NYSE:PCQ) Declines By 54.0%

PIMCO California Municipal Income Fund (NYSE:PCQ) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 4,600 shares, a decline of 54.0% from the January 31st total of 10,000 shares. Based on an average daily trading volume, of 87,500 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Hedge funds have recently bought and sold shares of the business. Morse Asset Management Inc purchased a new position in shares of PIMCO California Municipal Income Fund in the 3rd quarter worth $136,000. Saba Capital Management L.P. bought a new position in shares of PIMCO California Municipal Income Fund in the 4th quarter valued at about $150,000. Virtu Financial LLC purchased a new position in PIMCO California Municipal Income Fund in the third quarter worth about $250,000. Citadel Advisors LLC bought a new stake in PIMCO California Municipal Income Fund during the fourth quarter worth approximately $253,000. Finally, Wedbush Securities Inc. raised its position in PIMCO California Municipal Income Fund by 12.3% during the fourth quarter. Wedbush Securities Inc. now owns 29,044 shares of the investment management company’s stock valued at $263,000 after purchasing an additional 3,192 shares during the period.

PIMCO California Municipal Income Fund Price Performance

PIMCO California Municipal Income Fund stock traded up $0.07 during midday trading on Friday, reaching $9.31. 82,551 shares of the stock traded hands, compared to its average volume of 63,714. PIMCO California Municipal Income Fund has a 12 month low of $8.74 and a 12 month high of $10.24. The stock’s fifty day moving average is $9.08 and its 200-day moving average is $9.51.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be issued a $0.036 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, February 13th.

PIMCO California Municipal Income Fund Company Profile

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.