Wells Fargo & Company MN Has $3.93 Million Stake in PIMCO Municipal Income Fund III (NYSE:PMX)

Wells Fargo & Company MN grew its stake in PIMCO Municipal Income Fund III (NYSE:PMX) by 67.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 534,268 shares of the investment management company’s stock after purchasing an additional 214,591 shares during the quarter. Wells Fargo & Company MN’s holdings in PIMCO Municipal Income Fund III were worth $3,932,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. lifted its stake in PIMCO Municipal Income Fund III by 7.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 864,517 shares of the investment management company’s stock valued at $6,363,000 after acquiring an additional 60,052 shares in the last quarter. Van ECK Associates Corp grew its position in PIMCO Municipal Income Fund III by 6.7% in the 4th quarter. Van ECK Associates Corp now owns 176,973 shares of the investment management company’s stock worth $1,303,000 after purchasing an additional 11,126 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in PIMCO Municipal Income Fund III in the 4th quarter valued at about $1,287,000. Smith Moore & CO. lifted its position in shares of PIMCO Municipal Income Fund III by 53.8% during the 4th quarter. Smith Moore & CO. now owns 133,609 shares of the investment management company’s stock worth $983,000 after buying an additional 46,724 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of PIMCO Municipal Income Fund III by 6.3% in the 4th quarter. Park Avenue Securities LLC now owns 126,068 shares of the investment management company’s stock worth $928,000 after buying an additional 7,490 shares during the last quarter.

PIMCO Municipal Income Fund III Stock Down 1.3 %

Shares of PMX opened at $6.62 on Tuesday. The stock has a 50 day moving average of $7.14 and a 200 day moving average of $7.48. PIMCO Municipal Income Fund III has a 12 month low of $6.37 and a 12 month high of $8.52.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.033 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Friday, April 11th.

PIMCO Municipal Income Fund III Profile

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and 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. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.