PIMCO California Municipal Income Fund III (NYSE:PZC) Shares Pass Below 200-Day Moving Average of $7.34

PIMCO California Municipal Income Fund III (NYSE:PZC) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.34 and traded as low as $7.13. PIMCO California Municipal Income Fund III shares last traded at $7.16, with a volume of 33,582 shares.

PIMCO California Municipal Income Fund III Stock Performance

The stock’s fifty day simple moving average is $7.11 and its 200-day simple moving average is $7.34.

PIMCO California Municipal Income Fund III Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Thursday, June 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

A number of hedge funds have recently bought and sold shares of the company. Spire Wealth Management bought a new stake in shares of PIMCO California Municipal Income Fund III during the 4th quarter worth $50,000. Bramshill Investments LLC bought a new stake in shares of PIMCO California Municipal Income Fund III during the 3rd quarter worth $104,000. Wolverine Asset Management LLC bought a new stake in shares of PIMCO California Municipal Income Fund III during the 4th quarter worth $253,000. Raymond James & Associates raised its stake in shares of PIMCO California Municipal Income Fund III by 40.6% during the 4th quarter. Raymond James & Associates now owns 48,500 shares of the investment management company’s stock worth $357,000 after purchasing an additional 14,000 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of PIMCO California Municipal Income Fund III by 5.6% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 483,955 shares of the investment management company’s stock worth $3,673,000 after purchasing an additional 25,453 shares during the period.

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.