PIMCO California Municipal Income Fund III (NYSE:PZC) Sees Large Drop in Short Interest

PIMCO California Municipal Income Fund III (NYSE:PZC) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 53,200 shares, a decline of 48.1% from the February 29th total of 102,500 shares. Based on an average daily volume of 51,000 shares, the short-interest ratio is presently 1.0 days.

PIMCO California Municipal Income Fund III Stock Down 1.6 %

NYSE PZC traded down $0.12 during trading hours on Thursday, hitting $7.59. The company had a trading volume of 38,729 shares, compared to its average volume of 44,659. The firm’s 50 day moving average is $7.56 and its 200 day moving average is $7.20. PIMCO California Municipal Income Fund III has a fifty-two week low of $6.30 and a fifty-two week high of $8.20.

PIMCO California Municipal Income Fund III Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be issued a $0.0295 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.35 dividend on an annualized basis and a yield of 4.66%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in PIMCO California Municipal Income Fund III by 4.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 541,139 shares of the investment management company’s stock worth $3,707,000 after purchasing an additional 24,809 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in PIMCO California Municipal Income Fund III by 11.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 435,134 shares of the investment management company’s stock valued at $2,981,000 after purchasing an additional 44,969 shares during the period. Guggenheim Capital LLC lifted its position in shares of PIMCO California Municipal Income Fund III by 7.1% during the 2nd quarter. Guggenheim Capital LLC now owns 401,949 shares of the investment management company’s stock worth $3,095,000 after buying an additional 26,503 shares during the period. UBS Group AG lifted its position in shares of PIMCO California Municipal Income Fund III by 70.0% during the 2nd quarter. UBS Group AG now owns 353,271 shares of the investment management company’s stock worth $2,918,000 after buying an additional 145,483 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in shares of PIMCO California Municipal Income Fund III by 133.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 69,971 shares of the investment management company’s stock worth $539,000 after buying an additional 39,971 shares during the period.

PIMCO California Municipal Income Fund III Company Profile

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.