Short Interest in PIMCO California Municipal Income Fund III (NYSE:PZC) Decreases By 83.8%

PIMCO California Municipal Income Fund III (NYSE:PZC) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,700 shares, a drop of 83.8% from the August 15th total of 10,500 shares. Based on an average trading volume of 16,700 shares, the short-interest ratio is presently 0.1 days.

Large investors have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in PIMCO California Municipal Income Fund III by 23.7% during the second quarter. Morgan Stanley now owns 162,900 shares of the investment management company’s stock worth $1,868,000 after acquiring an additional 31,187 shares during the period. Bank of America Corp DE lifted its holdings in PIMCO California Municipal Income Fund III by 14.0% during the second quarter. Bank of America Corp DE now owns 41,165 shares of the investment management company’s stock worth $472,000 after acquiring an additional 5,043 shares during the period. Royal Bank of Canada lifted its holdings in PIMCO California Municipal Income Fund III by 100.7% during the second quarter. Royal Bank of Canada now owns 6,275 shares of the investment management company’s stock worth $72,000 after acquiring an additional 3,149 shares during the period. Strategic Wealth Advisors Group LLC lifted its holdings in PIMCO California Municipal Income Fund III by 40.9% during the second quarter. Strategic Wealth Advisors Group LLC now owns 51,712 shares of the investment management company’s stock worth $593,000 after acquiring an additional 15,000 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in PIMCO California Municipal Income Fund III by 45.2% during the second quarter. Advisors Asset Management Inc. now owns 84,801 shares of the investment management company’s stock worth $973,000 after acquiring an additional 26,404 shares during the period.

PIMCO California Municipal Income Fund III stock traded down $0.07 during mid-day trading on Thursday, reaching $11.18. The stock had a trading volume of 14,324 shares, compared to its average volume of 26,840. PIMCO California Municipal Income Fund III has a fifty-two week low of $9.91 and a fifty-two week high of $11.77. The stock’s 50-day simple moving average is $11.40 and its 200-day simple moving average is $11.09.

The business also recently announced a monthly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, September 13th will be given a dividend of $0.038 per share. The ex-dividend date is Friday, September 10th. This represents a $0.46 annualized dividend and a dividend yield of 4.08%.

About PIMCO California Municipal Income Fund III

PIMCO California Municipal Income Fund III is a closed-end investment fund. Its investment objective is to provide current income exempt from federal and California income tax. The company was founded on August 20, 2002 and is headquartered in New York, NY.

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