PIMCO California Municipal Income Fund III (NYSE:PZC) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.25 and traded as low as $6.79. PIMCO California Municipal Income Fund III shares last traded at $6.87, with a volume of 171,008 shares trading hands.

PIMCO California Municipal Income Fund III Stock Up 0.1 %

The firm’s fifty day moving average is $7.08 and its two-hundred day moving average is $7.24.

PIMCO California Municipal Income Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be given a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

Several institutional investors and hedge funds have recently modified their holdings of PZC. Wolverine Asset Management LLC boosted its position in shares of PIMCO California Municipal Income Fund III by 183.9% during the third quarter. Wolverine Asset Management LLC now owns 89,146 shares of the investment management company’s stock worth $669,000 after acquiring an additional 57,741 shares during the last quarter. Landscape Capital Management L.L.C. lifted its stake in PIMCO California Municipal Income Fund III by 15.8% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 100,858 shares of the investment management company’s stock worth $756,000 after purchasing an additional 13,750 shares in the last quarter. Logan Stone Capital LLC bought a new position in shares of PIMCO California Municipal Income Fund III during the 2nd quarter valued at about $83,000. Farther Finance Advisors LLC bought a new position in shares of PIMCO California Municipal Income Fund III during the 3rd quarter valued at about $38,000. Finally, Intellectus Partners LLC grew its position in shares of PIMCO California Municipal Income Fund III by 7.1% during the third quarter. Intellectus Partners LLC now owns 37,500 shares of the investment management company’s stock valued at $282,000 after purchasing an additional 2,500 shares in the last quarter.

About PIMCO California Municipal Income Fund III

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