Short Interest in PIMCO California Municipal Income Fund (NYSE:PCQ) Decreases By 22.1%

PIMCO California Municipal Income Fund (NYSE:PCQ – Get Rating) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 30,400 shares, a decrease of 22.1% from the March 15th total of 39,000 shares. Based on an average daily volume of 30,500 shares, the days-to-cover ratio is currently 1.0 days.

Shares of PCQ opened at $15.39 on Monday. PIMCO California Municipal Income Fund has a 12-month low of $14.87 and a 12-month high of $20.19. The firm has a 50-day moving average price of $15.88.

The company 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 $0.065 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Friday, April 8th.

Hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in PIMCO California Municipal Income Fund by 6.0% during the third quarter. Morgan Stanley now owns 353,736 shares of the investment management company’s stock worth $6,686,000 after buying an additional 19,943 shares during the period. Guggenheim Capital LLC boosted its stake in PIMCO California Municipal Income Fund by 135.7% during the fourth quarter. Guggenheim Capital LLC now owns 42,055 shares of the investment management company’s stock worth $781,000 after buying an additional 24,213 shares during the period. UBS Group AG boosted its stake in PIMCO California Municipal Income Fund by 2.8% during the third quarter. UBS Group AG now owns 36,763 shares of the investment management company’s stock worth $695,000 after buying an additional 995 shares during the period. Wells Fargo & Company MN boosted its stake in PIMCO California Municipal Income Fund by 7.2% during the second quarter. Wells Fargo & Company MN now owns 19,960 shares of the investment management company’s stock worth $380,000 after buying an additional 1,344 shares during the period. Finally, Regatta Capital Group LLC purchased a new position in PIMCO California Municipal Income Fund during the fourth quarter worth about $960,000.

About PIMCO California Municipal Income Fund (Get Rating)

PIMCO California Municipal Income Fund 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 of the United States. It seeks to invest in stocks of companies operating across diversified sectors.

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