PIMCO California Municipal Income Fund III (NYSE:PZC) Shares Cross Below 200-Day Moving Average – Time to Sell?

PIMCO California Municipal Income Fund III (NYSE:PZC) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.07 and traded as low as $6.59. PIMCO California Municipal Income Fund III shares last traded at $6.60, with a volume of 89,197 shares trading hands.

PIMCO California Municipal Income Fund III Price Performance

The stock’s 50 day moving average is $6.77 and its 200 day moving average is $7.06.

PIMCO California Municipal Income Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a $0.0295 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.35 dividend on an annualized basis and a yield of 5.36%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

A number of large investors have recently added to or reduced their stakes in PZC. Logan Stone Capital LLC grew its stake in PIMCO California Municipal Income Fund III by 332.4% in the 4th quarter. Logan Stone Capital LLC now owns 115,841 shares of the investment management company’s stock valued at $796,000 after acquiring an additional 89,050 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of PIMCO California Municipal Income Fund III by 19.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 395,179 shares of the investment management company’s stock worth $2,715,000 after purchasing an additional 63,236 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PIMCO California Municipal Income Fund III during the 4th quarter worth about $338,000. Bank of New York Mellon Corp acquired a new stake in shares of PIMCO California Municipal Income Fund III during the 4th quarter worth about $249,000. Finally, Wolverine Asset Management LLC boosted its stake in shares of PIMCO California Municipal Income Fund III by 40.0% during the 4th quarter. Wolverine Asset Management LLC now owns 124,818 shares of the investment management company’s stock worth $857,000 after purchasing an additional 35,672 shares during the last quarter.

About PIMCO California Municipal Income Fund III

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.