PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Crosses Below 200 Day Moving Average – What’s Next?

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.83 and traded as low as $8.62. PIMCO California Municipal Income Fund shares last traded at $8.6450, with a volume of 77,767 shares trading hands.

PIMCO California Municipal Income Fund Stock Down 0.5%

The stock has a 50 day simple moving average of $8.73 and a 200 day simple moving average of $8.83.

PIMCO California Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a $0.036 dividend. This represents a c) dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, May 11th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rivernorth Capital Management LLC boosted its position in shares of PIMCO California Municipal Income Fund by 2.7% during the first quarter. Rivernorth Capital Management LLC now owns 2,512,000 shares of the investment management company’s stock worth $21,553,000 after buying an additional 64,938 shares during the period. Whitebox Advisors LLC boosted its position in shares of PIMCO California Municipal Income Fund by 45.5% during the first quarter. Whitebox Advisors LLC now owns 284,471 shares of the investment management company’s stock worth $2,441,000 after buying an additional 88,995 shares during the period. Altium Capital Management LLC boosted its position in shares of PIMCO California Municipal Income Fund by 28.6% during the first quarter. Altium Capital Management LLC now owns 333,093 shares of the investment management company’s stock worth $2,858,000 after buying an additional 74,001 shares during the period. Granite Investment Partners LLC acquired a new position in shares of PIMCO California Municipal Income Fund during the first quarter worth approximately $104,000. Finally, PFG Investments LLC boosted its position in shares of PIMCO California Municipal Income Fund by 51.8% during the first quarter. PFG Investments LLC now owns 57,854 shares of the investment management company’s stock worth $496,000 after buying an additional 19,748 shares during the period.

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.