PIMCO Municipal Income Fund III (NYSE:PMX) Short Interest Update

PIMCO Municipal Income Fund III (NYSE:PMX) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 125,400 shares, a growth of 69.7% from the March 31st total of 73,900 shares. Based on an average daily trading volume, of 102,700 shares, the short-interest ratio is presently 1.2 days.

PIMCO Municipal Income Fund III Price Performance

Shares of NYSE PMX traded down $0.04 during midday trading on Monday, reaching $7.48. The company’s stock had a trading volume of 38,075 shares, compared to its average volume of 103,539. PIMCO Municipal Income Fund III has a 12-month low of $6.09 and a 12-month high of $8.15. The firm has a 50 day moving average price of $7.48 and a 200-day moving average price of $7.27.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Thursday, April 11th will be paid a $0.033 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.29%.

Hedge Funds Weigh In On PIMCO Municipal Income Fund III

Several institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in PIMCO Municipal Income Fund III in the fourth quarter valued at approximately $178,000. Beta Wealth Group Inc. purchased a new position in PIMCO Municipal Income Fund III in the fourth quarter valued at approximately $936,000. Fiera Capital Corp purchased a new position in PIMCO Municipal Income Fund III in the fourth quarter valued at approximately $6,160,000. Summit Trail Advisors LLC purchased a new position in PIMCO Municipal Income Fund III in the fourth quarter valued at approximately $127,000. Finally, Spire Wealth Management lifted its stake in PIMCO Municipal Income Fund III by 207.2% in the fourth quarter. Spire Wealth Management now owns 39,736 shares of the investment management company’s stock valued at $284,000 after purchasing an additional 26,800 shares during the last quarter.

About PIMCO Municipal Income Fund III

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.