PIMCO California Municipal Income Fund III (NYSE:PZC) Sees Significant Growth in Short Interest

PIMCO California Municipal Income Fund III (NYSE:PZC) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 41,900 shares, an increase of 40.6% from the March 15th total of 29,800 shares. Based on an average daily volume of 80,500 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in PIMCO California Municipal Income Fund III in the fourth quarter valued at approximately $29,000. Intellectus Partners LLC raised its stake in PIMCO California Municipal Income Fund III by 17.3% during the 4th quarter. Intellectus Partners LLC now owns 44,000 shares of the investment management company’s stock worth $304,000 after buying an additional 6,500 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in PIMCO California Municipal Income Fund III by 2.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 403,691 shares of the investment management company’s stock worth $2,632,000 after acquiring an additional 8,512 shares in the last quarter. Vanguard Capital Wealth Advisors acquired a new position in PIMCO California Municipal Income Fund III in the fourth quarter valued at about $69,000. Finally, Nomura Holdings Inc. bought a new stake in shares of PIMCO California Municipal Income Fund III in the fourth quarter worth about $69,000.

PIMCO California Municipal Income Fund III Price Performance

NYSE:PZC opened at $6.21 on Friday. PIMCO California Municipal Income Fund III has a 1-year low of $6.02 and a 1-year high of $7.65. The business’s 50-day moving average price is $6.61 and its two-hundred day moving average price is $6.89.

PIMCO California Municipal Income Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.0295 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.70%.

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.