PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.03 and traded as low as $6.51. PIMCO California Municipal Income Fund III shares last traded at $6.52, with a volume of 93,611 shares trading hands.

PIMCO California Municipal Income Fund III Stock Down 0.8 %

The firm has a 50 day moving average price of $6.75 and a 200 day moving average price of $7.03.

PIMCO California Municipal Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be paid a $0.0295 dividend. This represents a $0.35 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Thursday, March 13th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Beta Wealth Group Inc. bought a new position in shares of PIMCO California Municipal Income Fund III in the fourth quarter worth approximately $142,000. Bank of New York Mellon Corp bought a new position in PIMCO California Municipal Income Fund III in the 4th quarter worth $249,000. Wolverine Asset Management LLC increased its stake in PIMCO California Municipal Income Fund III by 40.0% in the 4th quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock worth $857,000 after buying an additional 35,672 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in PIMCO California Municipal Income Fund III by 19.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock valued at $2,715,000 after acquiring an additional 63,236 shares during the period. Finally, Conrad Siegel Investment Advisors Inc. purchased a new position in shares of PIMCO California Municipal Income Fund III in the fourth quarter valued at about $80,000.

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.