PIMCO California Municipal Income Fund II (NYSE:PCK) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund II (NYSE:PCK) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.96 and traded as low as $5.59. PIMCO California Municipal Income Fund II shares last traded at $5.63, with a volume of 393,256 shares trading hands.

PIMCO California Municipal Income Fund II Price Performance

The company has a 50 day simple moving average of $5.85 and a 200 day simple moving average of $5.96.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be given a $0.0215 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Monday, January 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund II

Several hedge funds have recently modified their holdings of PCK. Almitas Capital LLC bought a new stake in PIMCO California Municipal Income Fund II during the second quarter worth $64,000. Morse Asset Management Inc acquired a new position in shares of PIMCO California Municipal Income Fund II during the 3rd quarter worth about $100,000. Commonwealth Equity Services LLC raised its holdings in shares of PIMCO California Municipal Income Fund II by 3.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 62,422 shares of the closed-end fund’s stock valued at $365,000 after purchasing an additional 2,200 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in PIMCO California Municipal Income Fund II in the 3rd quarter valued at about $547,000. Finally, City of London Investment Management Co. Ltd. grew its holdings in PIMCO California Municipal Income Fund II by 29.9% during 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 purchasing an additional 61,501 shares during the period.

About PIMCO California Municipal Income Fund II

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.