PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Crosses Below 50-Day Moving Average – What’s Next?

PIMCO California Municipal Income Fund (NYSE:PCQ)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.96 and traded as low as $8.85. PIMCO California Municipal Income Fund shares last traded at $8.8650, with a volume of 159,639 shares traded.

PIMCO California Municipal Income Fund Stock Down 0.3%

The stock’s 50 day moving average is $8.96 and its 200 day moving average is $8.81.

PIMCO California Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be issued a $0.036 dividend. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in shares of PIMCO California Municipal Income Fund by 179.5% in the third quarter. Farther Finance Advisors LLC now owns 3,114 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 2,000 shares during the period. Golden State Wealth Management LLC purchased a new position in PIMCO California Municipal Income Fund during the third quarter worth about $27,000. Smartleaf Asset Management LLC acquired a new stake in PIMCO California Municipal Income Fund in the 4th quarter worth about $27,000. Elyxium Wealth LLC acquired a new stake in PIMCO California Municipal Income Fund in the 4th quarter worth about $43,000. Finally, Tortoise Investment Management LLC purchased a new stake in PIMCO California Municipal Income Fund in the 3rd quarter valued at about $55,000.

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.