Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Declines By 43.3%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 10,100 shares, a decline of 43.3% from the November 30th total of 17,800 shares. Based on an average daily volume of 112,300 shares, the short-interest ratio is presently 0.1 days.

PIMCO California Municipal Income Fund II Trading Up 0.7 %

PCK opened at $5.74 on Friday. The stock has a 50-day moving average price of $5.93 and a 200-day moving average price of $5.97. PIMCO California Municipal Income Fund II has a 12-month low of $5.53 and a 12-month high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be paid a $0.0215 dividend. This represents a $0.26 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Almitas Capital LLC purchased a new stake in shares of PIMCO California Municipal Income Fund II in the 2nd quarter valued at $64,000. Hennion & Walsh Asset Management Inc. boosted its position in PIMCO California Municipal Income Fund II by 12.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 548,303 shares of the closed-end fund’s stock valued at $3,443,000 after buying an additional 60,054 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of PIMCO California Municipal Income Fund II by 3.7% during the second quarter. Commonwealth Equity Services LLC now owns 62,422 shares of the closed-end fund’s stock valued at $365,000 after buying an additional 2,200 shares during the last quarter. City of London Investment Management Co. Ltd. increased its holdings in shares of PIMCO California Municipal Income Fund II by 29.9% in the second quarter. City of London Investment Management Co. Ltd. now owns 267,495 shares of the closed-end fund’s stock worth $1,565,000 after buying an additional 61,501 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of PIMCO California Municipal Income Fund II in the third quarter worth about $547,000.

PIMCO California Municipal Income Fund II Company Profile

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.