PIMCO California Municipal Income Fund (NYSE:PCQ) Sees Significant Increase in Short Interest

PIMCO California Municipal Income Fund (NYSE:PCQ) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 202,562 shares, a growth of 94.9% from the July 30th total of 103,955 shares. Based on an average daily volume of 111,492 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of PIMCO California Municipal Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PCQ. Smartleaf Asset Management LLC acquired a new position in PIMCO California Municipal Income Fund during the fourth quarter valued at $27,000. Elyxium Wealth LLC purchased a new position in shares of PIMCO California Municipal Income Fund during the 4th quarter valued at about $43,000. Farther Finance Advisors LLC raised its stake in shares of PIMCO California Municipal Income Fund by 107.6% during the 4th quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock valued at $56,000 after buying an additional 3,350 shares during the last quarter. Baird Financial Group Inc. acquired a new position in shares of PIMCO California Municipal Income Fund in the 2nd quarter valued at about $87,000. Finally, Granite Investment Partners LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the 1st quarter valued at about $104,000.

PIMCO California Municipal Income Fund Stock Down 0.6%

PIMCO California Municipal Income Fund stock opened at $8.67 on Tuesday. The stock has a 50-day moving average price of $8.79 and a 200 day moving average price of $8.81. PIMCO California Municipal Income Fund has a 52 week low of $8.23 and a 52 week high of $9.19.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be given a dividend of $0.036 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

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.