PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Passes Above 50-Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.79 and traded as high as $8.95. PIMCO California Municipal Income Fund shares last traded at $8.9050, with a volume of 87,115 shares.

PIMCO California Municipal Income Fund Price Performance

The firm has a fifty day moving average of $8.79 and a 200 day moving average of $8.65.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Tuesday, January 13th will be issued a $0.036 dividend. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, January 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in PCQ. Farther Finance Advisors LLC grew its stake in shares of PIMCO California Municipal Income Fund by 179.5% during the third quarter. Farther Finance Advisors LLC now owns 3,114 shares of the investment management company’s stock worth $27,000 after purchasing an additional 2,000 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of PIMCO California Municipal Income Fund during the 3rd quarter worth about $27,000. Tortoise Investment Management LLC acquired a new position in shares of PIMCO California Municipal Income Fund during the 3rd quarter worth about $55,000. Baird Financial Group Inc. purchased a new position in shares of PIMCO California Municipal Income Fund in the 2nd quarter valued at about $87,000. Finally, Permanent Capital Management LP purchased a new position in shares of PIMCO California Municipal Income Fund in the 3rd quarter valued at about $96,000.

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.