PIMCO Municipal Income Fund III (NYSE:PMX) Sees Large Increase in Short Interest

PIMCO Municipal Income Fund III (NYSE:PMX) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 125,400 shares, a growth of 69.7% from the March 31st total of 73,900 shares. Based on an average trading volume of 102,700 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PMX. Bank of New York Mellon Corp lifted its position in PIMCO Municipal Income Fund III by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 88,456 shares of the investment management company’s stock worth $572,000 after purchasing an additional 2,047 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of PIMCO Municipal Income Fund III by 2.5% in the 3rd quarter. Park Avenue Securities LLC now owns 117,104 shares of the investment management company’s stock worth $758,000 after acquiring an additional 2,823 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of PIMCO Municipal Income Fund III in the 3rd quarter worth approximately $154,000. Ackerman Capital Advisors LLC acquired a new position in shares of PIMCO Municipal Income Fund III in the 3rd quarter worth approximately $306,000. Finally, Centurion Wealth Management LLC acquired a new position in shares of PIMCO Municipal Income Fund III in the 3rd quarter worth approximately $82,000.

PIMCO Municipal Income Fund III Stock Up 0.1 %

Shares of PMX stock opened at $7.52 on Monday. PIMCO Municipal Income Fund III has a one year low of $6.09 and a one year high of $8.22. The stock has a fifty day moving average price of $7.48 and a 200 day moving average price of $7.27.

PIMCO Municipal Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Thursday, April 11th will be given a $0.033 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $0.40 annualized dividend and a yield of 5.27%.

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.