PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.49 and traded as high as $8.80. PIMCO California Municipal Income Fund shares last traded at $8.79, with a volume of 186,259 shares traded.

PIMCO California Municipal Income Fund Price Performance

The stock’s 50-day simple moving average is $8.49 and its two-hundred day simple moving average is $8.50.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Tuesday, October 14th will be paid a dividend of $0.036 per share. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PCQ. Osaic Holdings Inc. increased its holdings in shares of PIMCO California Municipal Income Fund by 29.9% in the second quarter. Osaic Holdings Inc. now owns 39,116 shares of the investment management company’s stock worth $336,000 after purchasing an additional 9,000 shares during the last quarter. Jane Street Group LLC purchased a new position in PIMCO California Municipal Income Fund during the 2nd quarter valued at approximately $112,000. Baird Financial Group Inc. bought a new stake in PIMCO California Municipal Income Fund in the 2nd quarter worth approximately $87,000. Guggenheim Capital LLC raised its holdings in shares of PIMCO California Municipal Income Fund by 35.1% during the 2nd quarter. Guggenheim Capital LLC now owns 423,970 shares of the investment management company’s stock worth $3,642,000 after acquiring an additional 110,156 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of PIMCO California Municipal Income Fund by 11.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 30,000 shares of the investment management company’s stock valued at $258,000 after acquiring an additional 3,000 shares during the last quarter.

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.