PIMCO California Municipal Income Fund III (NYSE:PZC) Short Interest Up 173.2% in January

PIMCO California Municipal Income Fund III (NYSE:PZC) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 15,300 shares, a growth of 173.2% from the December 31st total of 5,600 shares. Based on an average trading volume of 76,400 shares, the days-to-cover ratio is currently 0.2 days.

PIMCO California Municipal Income Fund III Stock Performance

Shares of NYSE PZC traded up $0.04 during midday trading on Wednesday, reaching $6.76. 149,970 shares of the stock were exchanged, compared to its average volume of 88,143. PIMCO California Municipal Income Fund III has a 52-week low of $6.60 and a 52-week high of $7.90. The stock has a 50 day moving average price of $6.90 and a 200-day moving average price of $7.18.

PIMCO California Municipal Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be given a dividend of $0.0295 per share. The ex-dividend date is Monday, January 13th. This represents a $0.35 dividend on an annualized basis and a yield of 5.24%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in PIMCO California Municipal Income Fund III during the third quarter valued at $38,000. Wolverine Asset Management LLC lifted its holdings in PIMCO California Municipal Income Fund III by 183.9% in the third quarter. Wolverine Asset Management LLC now owns 89,146 shares of the investment management company’s stock worth $669,000 after purchasing an additional 57,741 shares during the period. Intellectus Partners LLC lifted its holdings in PIMCO California Municipal Income Fund III by 7.1% in the third quarter. Intellectus Partners LLC now owns 37,500 shares of the investment management company’s stock worth $282,000 after purchasing an additional 2,500 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in PIMCO California Municipal Income Fund III by 15.8% in the third quarter. Landscape Capital Management L.L.C. now owns 100,858 shares of the investment management company’s stock worth $756,000 after purchasing an additional 13,750 shares during the period. Finally, Conrad Siegel Investment Advisors Inc. acquired a new stake in PIMCO California Municipal Income Fund III in the 4th quarter valued at about $80,000.

PIMCO California Municipal Income Fund III Company Profile

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.