Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Decreases By 18.0%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 43,400 shares, a decline of 18.0% from the February 13th total of 52,900 shares. Based on an average daily volume of 137,800 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund II

A number of hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. purchased a new position in PIMCO California Municipal Income Fund II in the third quarter valued at about $547,000. Morse Asset Management Inc purchased a new stake in shares of PIMCO California Municipal Income Fund II during the 3rd quarter valued at about $100,000. Hennion & Walsh Asset Management Inc. lifted its position in PIMCO California Municipal Income Fund II by 13.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 624,074 shares of the closed-end fund’s stock worth $3,570,000 after acquiring an additional 75,771 shares in the last quarter. Silicon Valley Capital Partners purchased a new position in PIMCO California Municipal Income Fund II in the 4th quarter worth approximately $134,000. Finally, Abound Financial LLC acquired a new stake in PIMCO California Municipal Income Fund II in the fourth quarter valued at approximately $113,000.

PIMCO California Municipal Income Fund II Stock Up 1.5 %

Shares of NYSE:PCK traded up $0.09 during trading on Thursday, reaching $5.79. 42,489 shares of the stock were exchanged, compared to its average volume of 95,062. PIMCO California Municipal Income Fund II has a 12-month low of $5.50 and a 12-month high of $6.34. The firm’s 50-day moving average price is $5.78 and its 200 day moving average price is $5.92.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a $0.0215 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Thursday, March 13th.

PIMCO California Municipal Income Fund II Company Profile

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