PIMCO California Municipal Income Fund Announces Monthly Dividend of $0.04 (NYSE:PCQ)

PIMCO California Municipal Income Fund (NYSE:PCQ) declared a monthly dividend on Friday, January 2nd. Stockholders of record on Tuesday, January 13th will be paid a dividend of 0.036 per share by the investment management company on Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, January 13th.

PIMCO California Municipal Income Fund Stock Up 0.3%

Shares of PCQ stock opened at $8.91 on Friday. PIMCO California Municipal Income Fund has a 12-month low of $8.13 and a 12-month high of $9.36. The stock’s 50-day moving average price is $8.79 and its 200-day moving average price is $8.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vivaldi Capital Management LP purchased a new position in shares of PIMCO California Municipal Income Fund in the third quarter valued at $269,000. Whitebox Advisors LLC bought a new position in PIMCO California Municipal Income Fund during the third quarter valued at $1,269,000. Verition Fund Management LLC bought a new position in PIMCO California Municipal Income Fund during the third quarter valued at $1,362,000. Integrated Wealth Concepts LLC grew its stake in shares of PIMCO California Municipal Income Fund by 352.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 100,010 shares of the investment management company’s stock worth $872,000 after buying an additional 77,913 shares in the last quarter. Finally, City of London Investment Management Co. Ltd. purchased a new position in shares of PIMCO California Municipal Income Fund in the 3rd quarter worth $1,758,000.

About PIMCO California Municipal Income Fund

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.