PIMCO Municipal Income Fund III (NYSE:PMX) Short Interest Down 24.4% in October

PIMCO Municipal Income Fund III (NYSE:PMX) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 87,200 shares, a decline of 24.4% from the October 15th total of 115,400 shares. Based on an average daily trading volume, of 88,000 shares, the short-interest ratio is presently 1.0 days.

Institutional Investors Weigh In On PIMCO Municipal Income Fund III

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PMX. Concorde Asset Management LLC bought a new position in PIMCO Municipal Income Fund III in the 3rd quarter worth approximately $91,000. Advisors Asset Management Inc. raised its position in shares of PIMCO Municipal Income Fund III by 16.2% during the third quarter. Advisors Asset Management Inc. now owns 641,135 shares of the investment management company’s stock worth $5,296,000 after acquiring an additional 89,512 shares during the last quarter. Palumbo Wealth Management LLC bought a new position in PIMCO Municipal Income Fund III in the third quarter valued at about $484,000. Fortitude Family Office LLC bought a new stake in PIMCO Municipal Income Fund III during the 3rd quarter worth about $156,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in PIMCO Municipal Income Fund III by 67.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 804,465 shares of the investment management company’s stock valued at $6,645,000 after purchasing an additional 323,484 shares during the period.

PIMCO Municipal Income Fund III Price Performance

PIMCO Municipal Income Fund III stock traded down $0.03 during trading hours on Friday, hitting $7.84. 34,781 shares of the stock were exchanged, compared to its average volume of 94,912. PIMCO Municipal Income Fund III has a 12 month low of $7.02 and a 12 month high of $8.52. The business’s 50-day moving average is $8.09 and its two-hundred day moving average is $7.84.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.033 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.05%.

About PIMCO Municipal Income Fund III

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.