PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

PIMCO California Municipal Income Fund III (NYSE:PZC) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.19 and traded as low as $6.67. PIMCO California Municipal Income Fund III shares last traded at $6.69, with a volume of 79,948 shares trading hands.

PIMCO California Municipal Income Fund III Price Performance

The company’s 50-day moving average is $6.92 and its two-hundred day moving average is $7.19.

PIMCO California Municipal Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.35 annualized dividend and a dividend yield of 5.30%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

Hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. grew its position in shares of PIMCO California Municipal Income Fund III by 19.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock valued at $2,715,000 after purchasing an additional 63,236 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of PIMCO California Municipal Income Fund III by 183.9% during the third quarter. Wolverine Asset Management LLC now owns 89,146 shares of the investment management company’s stock valued at $669,000 after acquiring an additional 57,741 shares during the last quarter. Landscape Capital Management L.L.C. raised its stake in shares of PIMCO California Municipal Income Fund III by 15.8% during the third quarter. Landscape Capital Management L.L.C. now owns 100,858 shares of the investment management company’s stock valued at $756,000 after acquiring an additional 13,750 shares during the last quarter. Conrad Siegel Investment Advisors Inc. purchased a new position in shares of PIMCO California Municipal Income Fund III during the fourth quarter valued at about $80,000. Finally, Logan Stone Capital LLC purchased a new position in shares of PIMCO California Municipal Income Fund III during the second quarter valued at about $83,000.

About PIMCO California Municipal Income Fund III

PIMCO California Municipal Income Fund III 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. It seeks to invest in stocks of companies operating across diversified sectors.