PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Breaks Below 200 Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $8.71 and traded as low as $7.84. PIMCO California Municipal Income Fund shares last traded at $7.86, with a volume of 331,976 shares changing hands.

PIMCO California Municipal Income Fund Trading Down 0.9%

The company’s fifty day simple moving average is $8.56 and its 200 day simple moving average is $8.71.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $0.0360 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Friday, September 11th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Granite Investment Partners LLC purchased a new stake in shares of PIMCO California Municipal Income Fund in the first quarter worth about $104,000. Pasadena Private Wealth LLC purchased a new position in PIMCO California Municipal Income Fund during the fourth quarter worth about $109,000. Pure Financial Advisors LLC purchased a new stake in shares of PIMCO California Municipal Income Fund in the 2nd quarter valued at about $111,000. Seamount Financial Group Inc. bought a new stake in shares of PIMCO California Municipal Income Fund during the 1st quarter valued at about $124,000. Finally, Tortoise Investment Management LLC bought a new stake in shares of PIMCO California Municipal Income Fund during the 2nd quarter valued at about $124,000.

PIMCO California Municipal Income Fund Company Profile

PIMCO California Municipal Income Fund is a closed-end investment fund traded on the New York Stock Exchange under the symbol PCQ. The fund is managed by Pacific Investment Management Company LLC, commonly known as PIMCO, an investment management firm specializing in fixed-income and other asset classes.

The fund’s primary objective is to provide current income that is generally exempt from federal income tax and California state income tax. To pursue this objective, it invests principally in municipal bonds and other municipal obligations issued by or on behalf of California state and local governments, public agencies, and related entities.

Because its portfolio focuses on California municipal securities, the fund’s investments are concentrated geographically in California and may be affected by the financial condition of state and local governments, changes in tax laws, interest-rate movements, and developments in the municipal bond market.