Pimco CA Muni. Income Fund III (NYSE:PZC) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 17,500 shares, an increase of 660.9% from the August 31st total of 2,300 shares. Based on an average trading volume of 33,900 shares, the days-to-cover ratio is currently 0.5 days.
PZC stock opened at $10.59 on Monday. Pimco CA Muni. Income Fund III has a twelve month low of $7.13 and a twelve month high of $11.64. The business has a fifty day moving average of $10.70 and a 200-day moving average of $10.07.
The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $0.038 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.31%.
Several hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Pimco CA Muni. Income Fund III in the first quarter worth approximately $26,000. Knuff & Co LLC bought a new position in Pimco CA Muni. Income Fund III in the 2nd quarter worth approximately $54,000. Advisor Group Holdings Inc. bought a new position in Pimco CA Muni. Income Fund III in the 1st quarter worth approximately $89,000. Thomas J. Herzfeld Advisors Inc. bought a new position in Pimco CA Muni. Income Fund III in the 1st quarter worth approximately $114,000. Finally, Intellectus Partners LLC bought a new position in Pimco CA Muni. Income Fund III in the 2nd quarter worth approximately $127,000.
About Pimco CA Muni. 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.
See Also: Depreciation
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