PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.51 and traded as low as $9.20. PIMCO California Municipal Income Fund shares last traded at $9.24, with a volume of 73,172 shares.

PIMCO California Municipal Income Fund Stock Performance

The company’s fifty day moving average price is $9.07 and its two-hundred day moving average price is $9.51.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.036 per share. This represents a $0.43 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Thursday, February 13th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCQ. LPL Financial LLC increased its position in PIMCO California Municipal Income Fund by 2.7% in the 4th quarter. LPL Financial LLC now owns 99,513 shares of the investment management company’s stock valued at $900,000 after acquiring an additional 2,635 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of PIMCO California Municipal Income Fund by 12.3% in the fourth quarter. Wedbush Securities Inc. now owns 29,044 shares of the investment management company’s stock valued at $263,000 after purchasing an additional 3,192 shares in the last quarter. Logan Stone Capital LLC raised its position in PIMCO California Municipal Income Fund by 11.6% in the 4th quarter. Logan Stone Capital LLC now owns 115,951 shares of the investment management company’s stock worth $1,048,000 after purchasing an additional 12,092 shares during the last quarter. Morse Asset Management Inc acquired a new position in PIMCO California Municipal Income Fund during the 3rd quarter worth $136,000. Finally, Saba Capital Management L.P. bought a new position in PIMCO California Municipal Income Fund in the 4th quarter valued at $150,000.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund 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 of the United States. It seeks to invest in stocks of companies operating across diversified sectors.