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

PIMCO California Municipal Income Fund (NYSE:PCQ) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.83 and traded as low as $8.81. PIMCO California Municipal Income Fund shares last traded at $8.8610, with a volume of 156,292 shares trading hands.

PIMCO California Municipal Income Fund Trading Up 0.5%

The business’s 50-day simple moving average is $8.97 and its 200-day simple moving average is $8.83.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.036 per share. The ex-dividend date is Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 4.9%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

A number of institutional investors have recently bought and sold shares of PCQ. Rockefeller Capital Management L.P. grew its holdings in shares of PIMCO California Municipal Income Fund by 8.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 136,497 shares of the investment management company’s stock worth $1,192,000 after purchasing an additional 10,366 shares during the period. Financially in Tune LLC purchased a new position in PIMCO California Municipal Income Fund in the fourth quarter valued at approximately $262,000. Sit Investment Associates Inc. lifted its position in PIMCO California Municipal Income Fund by 28.7% during the fourth quarter. Sit Investment Associates Inc. now owns 391,540 shares of the investment management company’s stock valued at $3,418,000 after buying an additional 87,303 shares in the last quarter. XTX Topco Ltd grew its stake in PIMCO California Municipal Income Fund by 103.0% during the fourth quarter. XTX Topco Ltd now owns 30,102 shares of the investment management company’s stock worth $263,000 after buying an additional 15,272 shares during the period. Finally, Saba Capital Management L.P. grew its stake in PIMCO California Municipal Income Fund by 5.3% during the fourth 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 period.

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.