PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.96 and traded as low as $8.85. PIMCO California Municipal Income Fund shares last traded at $8.8650, with a volume of 159,639 shares traded.

PIMCO California Municipal Income Fund Price Performance

The company has a 50-day moving average price of $8.96 and a two-hundred day moving average price of $8.80.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be paid a dividend of $0.036 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) annualized dividend and a yield of 4.9%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Financially in Tune LLC bought a new position in shares of PIMCO California Municipal Income Fund during the 4th quarter worth approximately $262,000. Sit Investment Associates Inc. increased its stake in shares of PIMCO California Municipal Income Fund by 28.7% in the 4th quarter. Sit Investment Associates Inc. now owns 391,540 shares of the investment management company’s stock valued at $3,418,000 after acquiring an additional 87,303 shares in the last quarter. XTX Topco Ltd increased its stake in shares of PIMCO California Municipal Income Fund by 103.0% in the 4th quarter. XTX Topco Ltd now owns 30,102 shares of the investment management company’s stock valued at $263,000 after acquiring an additional 15,272 shares in the last quarter. Saba Capital Management L.P. lifted its position in shares of PIMCO California Municipal Income Fund by 5.3% during the 4th quarter. Saba Capital Management L.P. now owns 1,136,571 shares of the investment management company’s stock valued at $9,922,000 after acquiring an additional 57,544 shares during the period. Finally, Readystate Asset Management LP acquired a new position in shares of PIMCO California Municipal Income Fund during the 4th quarter valued at $318,000.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.