Short Interest in PIMCO California Municipal Income Fund (NYSE:PCQ) Expands By 69.6%

PIMCO California Municipal Income Fund (NYSE:PCQ) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 7,800 shares, a growth of 69.6% from the February 13th total of 4,600 shares. Based on an average daily trading volume, of 89,100 shares, the days-to-cover ratio is presently 0.1 days.

PIMCO California Municipal Income Fund Stock Performance

NYSE PCQ opened at $8.93 on Monday. The business has a 50 day simple moving average of $9.09 and a two-hundred day simple moving average of $9.48. PIMCO California Municipal Income Fund has a 1-year low of $8.74 and a 1-year high of $10.24.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a $0.036 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Thursday, March 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of PCQ. Advisors Asset Management Inc. boosted its holdings in shares of PIMCO California Municipal Income Fund by 5.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 404,092 shares of the investment management company’s stock worth $4,025,000 after purchasing an additional 21,980 shares during the period. Rockefeller Capital Management L.P. purchased a new position in PIMCO California Municipal Income Fund during the 3rd quarter valued at $269,000. Morse Asset Management Inc purchased a new position in PIMCO California Municipal Income Fund during the 3rd quarter valued at $136,000. Rivernorth Capital Management LLC boosted its holdings in PIMCO California Municipal Income Fund by 40.3% during the 3rd quarter. Rivernorth Capital Management LLC now owns 330,170 shares of the investment management company’s stock valued at $3,288,000 after acquiring an additional 94,829 shares during the period. Finally, Virtu Financial LLC purchased a new position in PIMCO California Municipal Income Fund during the 3rd quarter valued at $250,000.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund 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 of the United States. It seeks to invest in stocks of companies operating across diversified sectors.