PIMCO California Municipal Income Fund III (NYSE:PZC) Sees Significant Drop in Short Interest

PIMCO California Municipal Income Fund III (NYSE:PZC) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 5,200 shares, a decline of 46.4% from the October 31st total of 9,700 shares. Based on an average daily trading volume, of 50,900 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

Several institutional investors have recently added to or reduced their stakes in the stock. Intellectus Partners LLC boosted its stake in PIMCO California Municipal Income Fund III by 7.1% in the third quarter. Intellectus Partners LLC now owns 37,500 shares of the investment management company’s stock valued at $282,000 after acquiring an additional 2,500 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in shares of PIMCO California Municipal Income Fund III in the third quarter valued at $38,000. Logan Stone Capital LLC purchased a new position in shares of PIMCO California Municipal Income Fund III during the 2nd quarter valued at $83,000. Landscape Capital Management L.L.C. grew its stake in shares of PIMCO California Municipal Income Fund III by 15.8% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 100,858 shares of the investment management company’s stock worth $756,000 after acquiring an additional 13,750 shares during the period. Finally, Wolverine Asset Management LLC increased its holdings in PIMCO California Municipal Income Fund III by 5,134.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 31,405 shares of the investment management company’s stock worth $225,000 after acquiring an additional 30,805 shares during the last quarter.

PIMCO California Municipal Income Fund III Stock Performance

Shares of PZC traded up $0.08 on Thursday, reaching $7.17. 118,277 shares of the company’s stock traded hands, compared to its average volume of 50,653. The stock’s 50 day simple moving average is $7.33 and its two-hundred day simple moving average is $7.26. PIMCO California Municipal Income Fund III has a 52-week low of $6.90 and a 52-week high of $7.90.

PIMCO California Municipal Income Fund III Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Tuesday, November 12th.

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.