PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Passes Below 200-Day Moving Average – Here’s Why

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.84 and traded as low as $8.54. PIMCO California Municipal Income Fund shares last traded at $8.5950, with a volume of 85,193 shares.

PIMCO California Municipal Income Fund Price Performance

The stock has a fifty day moving average price of $8.94 and a two-hundred day moving average price of $8.84.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.036 per share. This represents a c) annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of PCQ. Rivernorth Capital Management LLC lifted its stake in shares of PIMCO California Municipal Income Fund by 2.9% during the fourth quarter. Rivernorth Capital Management LLC now owns 2,447,062 shares of the investment management company’s stock valued at $21,363,000 after buying an additional 68,766 shares during the period. Guggenheim Capital LLC grew its stake in PIMCO California Municipal Income Fund by 21.3% in the 4th quarter. Guggenheim Capital LLC now owns 1,212,418 shares of the investment management company’s stock worth $10,584,000 after acquiring an additional 213,149 shares during the period. Advisors Asset Management Inc. grew its stake in PIMCO California Municipal Income Fund by 171.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,160,051 shares of the investment management company’s stock worth $10,116,000 after acquiring an additional 733,431 shares during the period. Saba Capital Management L.P. raised its holdings in PIMCO California Municipal Income Fund by 5.3% in the 4th quarter. Saba Capital Management L.P. now owns 1,136,571 shares of the investment management company’s stock valued at $9,922,000 after acquiring an additional 57,544 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in PIMCO California Municipal Income Fund by 184.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,060,098 shares of the investment management company’s stock valued at $9,244,000 after acquiring an additional 686,781 shares during the last quarter.

PIMCO California Municipal Income Fund Company Profile

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.