PIMCO California Municipal Income Fund III (NYSE:PZC) Share Price Passes Below 200 Day Moving Average of $7.22

PIMCO California Municipal Income Fund III (NYSE:PZC)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.22 and traded as low as $6.95. PIMCO California Municipal Income Fund III shares last traded at $7.05, with a volume of 40,757 shares changing hands.

PIMCO California Municipal Income Fund III Trading Down 0.9 %

The company has a fifty day simple moving average of $7.56 and a 200-day simple moving average of $7.22.

PIMCO California Municipal Income Fund III Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Thursday, April 11th will be given a $0.0295 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.06%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund III

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors bought a new position in shares of PIMCO California Municipal Income Fund III during the second quarter valued at approximately $41,000. Spire Wealth Management purchased a new stake in shares of PIMCO California Municipal Income Fund III during the 4th quarter valued at $50,000. Lido Advisors LLC purchased a new stake in shares of PIMCO California Municipal Income Fund III during the 1st quarter valued at $78,000. Royal Bank of Canada raised its stake in PIMCO California Municipal Income Fund III by 22.9% in the 2nd quarter. Royal Bank of Canada now owns 11,548 shares of the investment management company’s stock worth $89,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Bramshill Investments LLC purchased a new position in PIMCO California Municipal Income Fund III in the 3rd quarter worth $104,000.

About PIMCO California Municipal Income Fund III

PIMCO California Municipal Income Fund III 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. It seeks to invest in stocks of companies operating across diversified sectors.