PIMCO California Municipal Income Fund II (NYSE:PCK) Short Interest Up 25.4% in March

PIMCO California Municipal Income Fund II (NYSE:PCK) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 84,400 shares, a growth of 25.4% from the March 15th total of 67,300 shares. Based on an average daily trading volume, of 106,500 shares, the days-to-cover ratio is presently 0.8 days.

PIMCO California Municipal Income Fund II Stock Down 1.5 %

Shares of PCK opened at $5.27 on Tuesday. PIMCO California Municipal Income Fund II has a one year low of $5.18 and a one year high of $6.34. The business has a fifty day moving average of $5.70 and a 200 day moving average of $5.81.

PIMCO California Municipal Income Fund II 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 given a dividend of $0.0215 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, April 11th.

Institutional Trading of PIMCO California Municipal Income Fund II

Several large investors have recently added to or reduced their stakes in PCK. Sit Investment Associates Inc. boosted its stake in shares of PIMCO California Municipal Income Fund II by 104.7% during the 4th quarter. Sit Investment Associates Inc. now owns 612,916 shares of the closed-end fund’s stock worth $3,506,000 after acquiring an additional 313,539 shares during the last quarter. Saba Capital Management L.P. lifted its position in PIMCO California Municipal Income Fund II by 12.1% during the fourth quarter. Saba Capital Management L.P. now owns 1,417,456 shares of the closed-end fund’s stock valued at $8,108,000 after purchasing an additional 152,715 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in PIMCO California Municipal Income Fund II during the fourth quarter valued at about $736,000. Hennion & Walsh Asset Management Inc. increased its position in PIMCO California Municipal Income Fund II by 13.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 624,074 shares of the closed-end fund’s stock worth $3,570,000 after buying an additional 75,771 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in PIMCO California Municipal Income Fund II in the fourth quarter worth about $401,000.

About PIMCO California Municipal Income Fund II

PIMCO California Municipal Income Fund II 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 United States. It seeks to invest in stocks of companies operating across diversified sectors.