PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Passes Below 200-Day Moving Average – Here’s Why

PIMCO California Municipal Income Fund (NYSE:PCQ) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.82 and traded as low as $8.81. PIMCO California Municipal Income Fund shares last traded at $8.82, with a volume of 63,055 shares traded.

PIMCO California Municipal Income Fund Price Performance

The firm’s 50-day moving average is $8.78 and its two-hundred day moving average is $8.82.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be given a $0.036 dividend. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC purchased a new position in PIMCO California Municipal Income Fund during the fourth quarter worth $27,000. Elyxium Wealth LLC purchased a new position in PIMCO California Municipal Income Fund during the fourth quarter worth $43,000. Tortoise Investment Management LLC purchased a new position in PIMCO California Municipal Income Fund during the third quarter worth $55,000. Farther Finance Advisors LLC boosted its stake in PIMCO California Municipal Income Fund by 107.6% during the fourth quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock worth $56,000 after buying an additional 3,350 shares during the period. Finally, Baird Financial Group Inc. purchased a new position in PIMCO California Municipal Income Fund during the second quarter worth $87,000.

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.