PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Down 44.5% in June

PIMCO California Municipal Income Fund (NYSE:PCQ) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 78,576 shares, a drop of 44.5% from the May 31st total of 141,651 shares. Based on an average daily trading volume, of 158,602 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PCQ. Western Wealth Management LLC purchased a new position in shares of PIMCO California Municipal Income Fund during the 1st quarter worth about $244,000. Rivernorth Capital Management LLC lifted its stake in PIMCO California Municipal Income Fund by 2.7% in the first quarter. Rivernorth Capital Management LLC now owns 2,512,000 shares of the investment management company’s stock worth $21,553,000 after purchasing an additional 64,938 shares during the last quarter. Whitebox Advisors LLC lifted its stake in PIMCO California Municipal Income Fund by 45.5% in the first quarter. Whitebox Advisors LLC now owns 284,471 shares of the investment management company’s stock worth $2,441,000 after purchasing an additional 88,995 shares during the last quarter. Altium Capital Management LLC lifted its stake in PIMCO California Municipal Income Fund by 28.6% in the first quarter. Altium Capital Management LLC now owns 333,093 shares of the investment management company’s stock worth $2,858,000 after purchasing an additional 74,001 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new position in shares of PIMCO California Municipal Income Fund during the first quarter valued at approximately $104,000.

PIMCO California Municipal Income Fund Stock Performance

NYSE:PCQ traded up $0.01 during mid-day trading on Wednesday, hitting $8.98. 117,784 shares of the company traded hands, compared to its average volume of 148,151. The stock’s fifty day moving average price is $8.81 and its 200-day moving average price is $8.83. PIMCO California Municipal Income Fund has a one year low of $8.16 and a one year high of $9.19.

PIMCO California Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be paid a dividend of $0.036 per share. The ex-dividend date is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.