PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.83 and traded as low as $8.75. PIMCO California Municipal Income Fund shares last traded at $8.7650, with a volume of 268,038 shares trading hands.

PIMCO California Municipal Income Fund Price Performance

The business’s 50-day moving average price is $8.87 and its 200 day moving average price is $8.83.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Monday, April 13th will be given a $0.036 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, April 13th.

Institutional Inflows and Outflows

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

About PIMCO California Municipal Income Fund

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.