Pimco Municipal Income Fund III (NYSE:PMX) Share Price Crosses Below Fifty Day Moving Average of $12.50

Pimco Municipal Income Fund III (NYSE:PMX) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $12.50 and traded as low as $12.41. Pimco Municipal Income Fund III shares last traded at $12.41, with a volume of 52,258 shares.

The business has a fifty day moving average of $12.50 and a 200-day moving average of $12.58.

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 13th will be issued a dividend of $0.046 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.55 dividend on an annualized basis and a yield of 4.45%.

A number of institutional investors and hedge funds have recently modified their holdings of PMX. Bank of America Corp DE raised its stake in Pimco Municipal Income Fund III by 83.5% during the second quarter. Bank of America Corp DE now owns 123,580 shares of the investment management company’s stock valued at $1,528,000 after buying an additional 56,230 shares during the last quarter. Royal Bank of Canada raised its stake in Pimco Municipal Income Fund III by 33.4% during the second quarter. Royal Bank of Canada now owns 11,989 shares of the investment management company’s stock valued at $148,000 after buying an additional 3,000 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Pimco Municipal Income Fund III by 22.8% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 19,410 shares of the investment management company’s stock valued at $246,000 after buying an additional 3,610 shares during the last quarter. Affiance Financial LLC raised its stake in Pimco Municipal Income Fund III by 1.7% during the fourth quarter. Affiance Financial LLC now owns 48,618 shares of the investment management company’s stock valued at $612,000 after buying an additional 818 shares during the last quarter. Finally, Hardy Reed LLC purchased a new position in Pimco Municipal Income Fund III during the fourth quarter valued at $193,000.

About Pimco Municipal Income Fund III (NYSE:PMX)

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.

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