Short Interest in PIMCO California Municipal Income Fund (NYSE:PCQ) Expands By 94.9%

PIMCO California Municipal Income Fund (NYSE:PCQ) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 202,562 shares, an increase of 94.9% from the July 30th total of 103,955 shares. Based on an average daily volume of 111,492 shares, the short-interest ratio is presently 1.8 days.

Institutional Trading of PIMCO California Municipal Income Fund

A number of institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC purchased a new position in shares of PIMCO California Municipal Income Fund during the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new stake in PIMCO California Municipal Income Fund in the fourth quarter worth approximately $43,000. Farther Finance Advisors LLC boosted its holdings in PIMCO California Municipal Income Fund by 107.6% in the fourth quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock worth $56,000 after purchasing an additional 3,350 shares during the last quarter. Baird Financial Group Inc. bought a new stake in PIMCO California Municipal Income Fund in the 2nd quarter worth approximately $87,000. Finally, Creative Planning bought a new stake in PIMCO California Municipal Income Fund in the 2nd quarter worth approximately $104,000.

PIMCO California Municipal Income Fund Stock Down 0.6%

Shares of PCQ stock traded down $0.05 during mid-day trading on Monday, hitting $8.67. The company’s stock had a trading volume of 207,228 shares, compared to its average volume of 145,615. PIMCO California Municipal Income Fund has a 52-week low of $8.23 and a 52-week high of $9.19. The business has a 50-day moving average price of $8.80 and a 200 day moving average price of $8.81.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be given a $0.036 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 5.0%.

PIMCO California Municipal Income Fund Company Profile

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.