PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.60 and traded as low as $6.12. PIMCO California Municipal Income Fund III shares last traded at $6.15, with a volume of 92,600 shares changing hands.

PIMCO California Municipal Income Fund III Stock Down 0.1%

The firm’s fifty day moving average is $6.26 and its 200-day moving average is $6.60.

PIMCO California Municipal Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 12th will be issued a $0.0295 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.35 annualized dividend and a yield of 5.76%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in PIMCO California Municipal Income Fund III by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 8,316 shares of the investment management company’s stock valued at $54,000 after purchasing an additional 4,158 shares in the last quarter. Nomura Holdings Inc. bought a new stake in PIMCO California Municipal Income Fund III in the fourth quarter valued at $69,000. Vanguard Capital Wealth Advisors bought a new stake in PIMCO California Municipal Income Fund III in the fourth quarter valued at $69,000. Virtu Financial LLC bought a new stake in PIMCO California Municipal Income Fund III in the fourth quarter valued at $86,000. Finally, Matisse Capital bought a new stake in PIMCO California Municipal Income Fund III in the first quarter valued at $97,000.

About PIMCO California Municipal Income Fund III

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.