PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Crosses Below 200-Day Moving Average – Here’s Why

PIMCO California Municipal Income Fund (NYSE:PCQ) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.83 and traded as low as $8.78. PIMCO California Municipal Income Fund shares last traded at $8.8640, with a volume of 103,165 shares.

PIMCO California Municipal Income Fund Stock Up 1.2%

The company’s 50 day simple moving average is $8.78 and its 200-day simple moving average is $8.83.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a $0.036 dividend. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a yield of 4.9%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Institutional investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC bought a new position in shares of PIMCO California Municipal Income Fund in the 3rd quarter worth $27,000. Farther Finance Advisors LLC increased its holdings in shares of PIMCO California Municipal Income Fund by 179.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,114 shares of the investment management company’s stock worth $27,000 after buying an additional 2,000 shares during the last quarter. Smartleaf Asset Management LLC bought a new position in shares of PIMCO California Municipal Income Fund in the 4th quarter worth $27,000. Elyxium Wealth LLC bought a new position in shares of PIMCO California Municipal Income Fund in the 4th quarter worth $43,000. Finally, Tortoise Investment Management LLC bought a new position in shares of PIMCO California Municipal Income Fund in the 3rd quarter worth $55,000.

PIMCO California Municipal Income Fund Company Profile

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.