Advisors Asset Management Inc. Grows Holdings in PIMCO Municipal Income Fund III (NYSE:PMX)

Advisors Asset Management Inc. raised its stake in PIMCO Municipal Income Fund III (NYSE:PMX) by 34.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 425,100 shares of the investment management company’s stock after purchasing an additional 107,839 shares during the quarter. Advisors Asset Management Inc.’s holdings in PIMCO Municipal Income Fund III were worth $3,175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PMX. Fiera Capital Corp bought a new stake in PIMCO Municipal Income Fund III during the fourth quarter worth about $6,160,000. Gill Capital Partners LLC raised its holdings in shares of PIMCO Municipal Income Fund III by 5.4% during the 1st quarter. Gill Capital Partners LLC now owns 421,766 shares of the investment management company’s stock valued at $3,125,000 after buying an additional 21,553 shares in the last quarter. Van ECK Associates Corp lifted its position in PIMCO Municipal Income Fund III by 25.4% in the 4th quarter. Van ECK Associates Corp now owns 238,955 shares of the investment management company’s stock worth $1,766,000 after buying an additional 48,431 shares during the last quarter. City of London Investment Management Co. Ltd. purchased a new stake in PIMCO Municipal Income Fund III in the first quarter worth approximately $950,000. Finally, Beta Wealth Group Inc. purchased a new stake in PIMCO Municipal Income Fund III in the fourth quarter worth approximately $936,000.

PIMCO Municipal Income Fund III Trading Up 0.7 %

Shares of PMX stock traded up $0.06 during trading hours on Friday, hitting $7.71. 73,205 shares of the company’s stock were exchanged, compared to its average volume of 96,694. PIMCO Municipal Income Fund III has a 12-month low of $6.09 and a 12-month high of $8.07. The business’s 50 day simple moving average is $7.67 and its 200-day simple moving average is $7.52.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Thursday, July 11th will be paid a $0.033 dividend. This represents a $0.40 annualized dividend and a yield of 5.14%. The ex-dividend date is Thursday, July 11th.

PIMCO Municipal Income Fund III Company Profile

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and 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. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.