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

PIMCO California Municipal Income Fund (NYSE:PCQ) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 202,562 shares, an increase of 94.9% from the July 30th total of 103,955 shares. Based on an average trading volume of 111,492 shares, the short-interest ratio is currently 1.8 days.

PIMCO California Municipal Income Fund Trading Up 0.3%

Shares of PIMCO California Municipal Income Fund stock traded up $0.03 on Friday, hitting $8.76. 62,712 shares of the company were exchanged, compared to its average volume of 145,242. The company has a 50-day moving average price of $8.80 and a 200 day moving average price of $8.81. PIMCO California Municipal Income Fund has a 1-year low of $8.23 and a 1-year high of $9.19.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a dividend of $0.036 per share. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 4.9%.

Institutional Trading of PIMCO California Municipal Income Fund

Several large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in shares of PIMCO California Municipal Income Fund by 161.0% in the 2nd quarter. HighTower Advisors LLC now owns 27,574 shares of the investment management company’s stock worth $247,000 after acquiring an additional 17,008 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of PIMCO California Municipal Income Fund during the 2nd quarter valued at about $160,000. Rivernorth Capital Management LLC grew its holdings in shares of PIMCO California Municipal Income Fund by 2.5% in the second quarter. Rivernorth Capital Management LLC now owns 2,575,012 shares of the investment management company’s stock valued at $23,098,000 after purchasing an additional 63,012 shares during the period. Wedbush Securities Inc. increased its position in PIMCO California Municipal Income Fund by 11.9% during the second quarter. Wedbush Securities Inc. now owns 88,333 shares of the investment management company’s stock worth $792,000 after purchasing an additional 9,387 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in PIMCO California Municipal Income Fund during the second quarter worth about $377,000.

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.