PIMCO California Municipal Income Fund III (NYSE:PZC) Short Interest Down 69.5% in March

PIMCO California Municipal Income Fund III (NYSE:PZC – Get Rating) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 7,300 shares, a decline of 69.5% from the March 15th total of 23,900 shares. Based on an average trading volume of 50,600 shares, the short-interest ratio is presently 0.1 days.

PZC remained flat at $$8.65 on Wednesday. The company’s stock had a trading volume of 118,234 shares, compared to its average volume of 50,620. The firm’s fifty day moving average price is $9.32 and its 200-day moving average price is $10.28. PIMCO California Municipal Income Fund III has a fifty-two week low of $8.57 and a fifty-two week high of $11.77.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, May 2nd. Investors of record on Monday, April 11th will be issued a $0.038 dividend. The ex-dividend date of this dividend is Friday, April 8th. This represents a $0.46 dividend on an annualized basis and a yield of 5.27%.

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in shares of PIMCO California Municipal Income Fund III by 100.7% in the second quarter. Royal Bank of Canada now owns 6,275 shares of the investment management company’s stock valued at $72,000 after buying an additional 3,149 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in PIMCO California Municipal Income Fund III in the third quarter valued at approximately $113,000. HighTower Advisors LLC acquired a new stake in PIMCO California Municipal Income Fund III during the 4th quarter valued at approximately $128,000. Ackerman Capital Advisors LLC bought a new position in PIMCO California Municipal Income Fund III during the 3rd quarter worth approximately $152,000. Finally, Wealthsource Partners LLC acquired a new position in shares of PIMCO California Municipal Income Fund III in the 4th quarter worth approximately $359,000.

About PIMCO California Municipal Income Fund III (Get Rating)

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.

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