Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Expands By 55.1%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 67,300 shares, an increase of 55.1% from the February 28th total of 43,400 shares. Based on an average trading volume of 124,300 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of PIMCO California Municipal Income Fund II

A number of hedge funds and other institutional investors have recently modified their holdings of PCK. Saba Capital Management L.P. grew its stake in PIMCO California Municipal Income Fund II by 12.1% during the 4th quarter. Saba Capital Management L.P. now owns 1,417,456 shares of the closed-end fund’s stock valued at $8,108,000 after purchasing an additional 152,715 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of PIMCO California Municipal Income Fund II by 4.2% during the fourth quarter. Advisors Asset Management Inc. now owns 667,468 shares of the closed-end fund’s stock worth $3,818,000 after buying an additional 26,791 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of PIMCO California Municipal Income Fund II by 13.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 624,074 shares of the closed-end fund’s stock worth $3,570,000 after buying an additional 75,771 shares during the last quarter. Sit Investment Associates Inc. raised its holdings in PIMCO California Municipal Income Fund II by 104.7% in the fourth quarter. Sit Investment Associates Inc. now owns 612,916 shares of the closed-end fund’s stock valued at $3,506,000 after acquiring an additional 313,539 shares in the last quarter. Finally, Logan Stone Capital LLC boosted its stake in PIMCO California Municipal Income Fund II by 22.9% during the 4th quarter. Logan Stone Capital LLC now owns 315,434 shares of the closed-end fund’s stock valued at $1,804,000 after acquiring an additional 58,751 shares during the last quarter.

PIMCO California Municipal Income Fund II Stock Down 0.3 %

Shares of PIMCO California Municipal Income Fund II stock opened at $5.66 on Tuesday. PIMCO California Municipal Income Fund II has a twelve month low of $5.50 and a twelve month high of $6.34. The company has a fifty day moving average price of $5.80 and a 200 day moving average price of $5.90.

PIMCO California Municipal Income Fund II Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.0215 per share. This represents a $0.26 annualized dividend and a yield of 4.56%. The ex-dividend date is Thursday, March 13th.

About PIMCO California Municipal Income Fund II

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