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

PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.83 and traded as low as $8.51. PIMCO California Municipal Income Fund shares last traded at $8.5750, with a volume of 166,824 shares trading hands.

PIMCO California Municipal Income Fund Stock Performance

The stock has a 50 day simple moving average of $8.90 and a two-hundred day simple moving average of $8.83.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th were given 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 was Thursday, March 12th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new position in PIMCO California Municipal Income Fund in the third quarter valued at about $27,000. Farther Finance Advisors LLC boosted its position in shares of PIMCO California Municipal Income Fund by 179.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,114 shares of the investment management company’s stock worth $27,000 after purchasing an additional 2,000 shares during the period. Smartleaf Asset Management LLC purchased a new position in shares of PIMCO California Municipal Income Fund during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new stake in PIMCO California Municipal Income Fund in the 4th quarter valued at approximately $43,000. Finally, Tortoise Investment Management LLC acquired a new position in PIMCO California Municipal Income Fund during the third quarter worth $55,000.

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.