PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Update

PIMCO California Municipal Income Fund (NYSE:PCQ) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 124,555 shares, a growth of 69.6% from the June 30th total of 73,428 shares. Based on an average daily volume of 138,618 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rivernorth Capital Management LLC increased its position in PIMCO California Municipal Income Fund by 2.7% during the first quarter. Rivernorth Capital Management LLC now owns 2,512,000 shares of the investment management company’s stock valued at $21,553,000 after acquiring an additional 64,938 shares during the last quarter. Guggenheim Capital LLC boosted its position in PIMCO California Municipal Income Fund by 21.3% in the fourth quarter. Guggenheim Capital LLC now owns 1,212,418 shares of the investment management company’s stock worth $10,584,000 after purchasing an additional 213,149 shares during the last quarter. Saba Capital Management L.P. grew its stake 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 purchasing an additional 57,544 shares during the period. Almitas Capital LLC grew its stake in shares of PIMCO California Municipal Income Fund by 318.7% during the 4th quarter. Almitas Capital LLC now owns 640,607 shares of the investment management company’s stock valued at $5,592,000 after purchasing an additional 487,609 shares during the period. Finally, Verition Fund Management LLC grew its stake in shares of PIMCO California Municipal Income Fund by 195.1% during the 4th quarter. Verition Fund Management LLC now owns 460,872 shares of the investment management company’s stock valued at $4,023,000 after purchasing an additional 304,678 shares during the period.

PIMCO California Municipal Income Fund Stock Up 0.3%

PIMCO California Municipal Income Fund stock opened at $8.60 on Friday. PIMCO California Municipal Income Fund has a one year low of $8.16 and a one year high of $9.19. The business’s fifty day moving average is $8.82 and its 200 day moving average is $8.84.

PIMCO California Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 13th will be paid a dividend of $0.036 per share. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

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.