Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Rises By 47.4%

PIMCO California Municipal Income Fund II (NYSE:PCK – Get Rating) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 28,900 shares, an increase of 47.4% from the April 15th total of 19,600 shares. Based on an average daily volume of 96,200 shares, the short-interest ratio is currently 0.3 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of PCK. Northwestern Mutual Wealth Management Co. raised its stake in PIMCO California Municipal Income Fund II by 47.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,238 shares of the closed-end fund’s stock valued at $59,000 after purchasing an additional 2,000 shares during the last quarter. First Trust Advisors LP acquired a new position in PIMCO California Municipal Income Fund II during the 1st quarter valued at about $119,000. First Foundation Advisors acquired a new stake in shares of PIMCO California Municipal Income Fund II in the 1st quarter valued at approximately $118,000. LPL Financial LLC raised its holdings in PIMCO California Municipal Income Fund II by 12.6% during the 3rd quarter. LPL Financial LLC now owns 20,780 shares of the closed-end fund’s stock worth $200,000 after buying an additional 2,333 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in PIMCO California Municipal Income Fund II by 7.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 20,985 shares of the closed-end fund’s stock worth $202,000 after buying an additional 1,468 shares during the period.

NYSE PCK opened at $6.85 on Friday. PIMCO California Municipal Income Fund II has a one year low of $6.73 and a one year high of $9.88. The company has a 50-day simple moving average of $7.36 and a 200-day simple moving average of $8.48.

The company also recently announced a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Thursday, May 12th will be given a $0.032 dividend. This represents a $0.38 annualized dividend and a dividend yield of 5.61%. The ex-dividend date is Wednesday, May 11th.

About PIMCO California Municipal Income Fund II (Get Rating)

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

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