PIMCO Municipal Income Fund III (NYSE:PMX) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Shares of PIMCO Municipal Income Fund III (NYSE:PMX) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.89 and traded as low as $7.48. PIMCO Municipal Income Fund III shares last traded at $7.51, with a volume of 221,210 shares changing hands.

PIMCO Municipal Income Fund III Trading Down 1.4 %

The firm has a 50-day moving average of $7.95 and a two-hundred day moving average of $7.89.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 12th will be given a $0.033 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Trading of PIMCO Municipal Income Fund III

Institutional investors and hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. increased its position in shares of PIMCO Municipal Income Fund III by 1,688.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 480,981 shares of the investment management company’s stock valued at $3,790,000 after buying an additional 454,080 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of PIMCO Municipal Income Fund III in the third quarter valued at approximately $156,000. Palumbo Wealth Management LLC purchased a new stake in shares of PIMCO Municipal Income Fund III in the third quarter valued at approximately $484,000. Commonwealth Equity Services LLC increased its position in shares of PIMCO Municipal Income Fund III by 17.8% in the second quarter. Commonwealth Equity Services LLC now owns 44,446 shares of the investment management company’s stock valued at $350,000 after buying an additional 6,704 shares in the last quarter. Finally, Plimoth Trust Co. LLC purchased a new stake in shares of PIMCO Municipal Income Fund III in the third quarter valued at approximately $84,000.

PIMCO Municipal Income Fund III Company Profile

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.