PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Passes Below 200 Day Moving Average – Here’s What Happened

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.86 and traded as low as $8.39. PIMCO California Municipal Income Fund shares last traded at $8.43, with a volume of 79,322 shares traded.

PIMCO California Municipal Income Fund Stock Performance

The company has a 50-day moving average of $8.49 and a 200-day moving average of $8.86.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Thursday, June 12th will be given a dividend of $0.036 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.43 annualized dividend and a dividend yield of 5.13%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of PIMCO California Municipal Income Fund by 39.6% during the 1st quarter. Bank of New York Mellon Corp now owns 74,968 shares of the investment management company’s stock worth $663,000 after purchasing an additional 21,277 shares during the last quarter. Wedbush Securities Inc. raised its holdings in PIMCO California Municipal Income Fund by 10.4% in the 1st quarter. Wedbush Securities Inc. now owns 32,062 shares of the investment management company’s stock valued at $284,000 after acquiring an additional 3,018 shares during the last quarter. Readystate Asset Management LP raised its holdings in PIMCO California Municipal Income Fund by 21.3% in the 1st quarter. Readystate Asset Management LP now owns 43,153 shares of the investment management company’s stock valued at $382,000 after acquiring an additional 7,591 shares during the last quarter. Matisse Capital raised its holdings in PIMCO California Municipal Income Fund by 2.4% in the 1st quarter. Matisse Capital now owns 73,452 shares of the investment management company’s stock valued at $650,000 after acquiring an additional 1,747 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in PIMCO California Municipal Income Fund in the 4th quarter valued at $253,000.

PIMCO California Municipal Income Fund Company Profile

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.