PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Update

PIMCO California Municipal Income Fund (NYSE:PCQ) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 44,200 shares, an increase of 321.0% from the September 30th total of 10,500 shares. Based on an average trading volume of 60,900 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in PIMCO California Municipal Income Fund by 12.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,000 shares of the investment management company’s stock worth $217,000 after buying an additional 2,500 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of PIMCO California Municipal Income Fund by 22.5% in the second quarter. Wedbush Securities Inc. now owns 21,841 shares of the investment management company’s stock valued at $206,000 after buying an additional 4,012 shares during the last quarter. Logan Stone Capital LLC raised its holdings in PIMCO California Municipal Income Fund by 9.8% during the 2nd quarter. Logan Stone Capital LLC now owns 122,369 shares of the investment management company’s stock worth $1,153,000 after purchasing an additional 10,936 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in PIMCO California Municipal Income Fund during the 2nd quarter worth about $115,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in PIMCO California Municipal Income Fund by 22.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 227,241 shares of the investment management company’s stock worth $2,263,000 after purchasing an additional 40,949 shares during the last quarter.

PIMCO California Municipal Income Fund Price Performance

PCQ traded up $0.03 during midday trading on Friday, hitting $9.87. 52,297 shares of the company’s stock traded hands, compared to its average volume of 58,297. The stock’s fifty day simple moving average is $9.83 and its 200-day simple moving average is $9.50. PIMCO California Municipal Income Fund has a one year low of $8.21 and a one year high of $10.24.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be given a dividend of $0.036 per share. This represents a $0.43 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Friday, October 11th.

PIMCO California Municipal Income Fund Company Profile

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.