Short Interest in PIMCO California Municipal Income Fund III (NYSE:PZC) Declines By 19.5%

PIMCO California Municipal Income Fund III (NYSE:PZC) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 29,800 shares, a decline of 19.5% from the February 28th total of 37,000 shares. Based on an average daily volume of 80,700 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

A number of hedge funds have recently modified their holdings of PZC. Golden State Wealth Management LLC purchased a new position in PIMCO California Municipal Income Fund III during the 4th quarter valued at about $29,000. Intellectus Partners LLC raised its position in shares of PIMCO California Municipal Income Fund III by 17.3% in the 4th quarter. Intellectus Partners LLC now owns 44,000 shares of the investment management company’s stock worth $304,000 after purchasing an additional 6,500 shares during the last quarter. Vanguard Capital Wealth Advisors bought a new position in PIMCO California Municipal Income Fund III in the 4th quarter worth about $69,000. Nomura Holdings Inc. bought a new position in PIMCO California Municipal Income Fund III in the 4th quarter worth about $69,000. Finally, Conrad Siegel Investment Advisors Inc. purchased a new stake in PIMCO California Municipal Income Fund III during the 4th quarter valued at about $80,000.

PIMCO California Municipal Income Fund III Stock Performance

Shares of NYSE:PZC traded up $0.01 during trading on Wednesday, reaching $6.62. 19,978 shares of the company traded hands, compared to its average volume of 73,008. PIMCO California Municipal Income Fund III has a 52-week low of $6.48 and a 52-week high of $7.67. The business’s fifty day moving average is $6.75 and its 200-day moving average is $7.01.

PIMCO California Municipal Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were given a dividend of $0.0295 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.35 annualized dividend and a yield of 5.35%.

PIMCO California Municipal Income Fund III Company Profile

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.