Short Interest in PIMCO California Municipal Income Fund (NYSE:PCQ) Increases By 94.9%

PIMCO California Municipal Income Fund (NYSE:PCQ) was the recipient of a large increase in short interest in August. As of August 14th, there was short interest totaling 202,562 shares, an increase of 94.9% from the July 30th total of 103,955 shares. Based on an average trading volume of 111,492 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC acquired a new stake in shares of PIMCO California Municipal Income Fund in the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in PIMCO California Municipal Income Fund in the 4th quarter valued at about $43,000. Farther Finance Advisors LLC raised its position in PIMCO California Municipal Income Fund by 107.6% in the 4th quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock valued at $56,000 after purchasing an additional 3,350 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of PIMCO California Municipal Income Fund in the 2nd quarter valued at about $87,000. Finally, Creative Planning purchased a new position in shares of PIMCO California Municipal Income Fund in the 2nd quarter valued at about $104,000.

PIMCO California Municipal Income Fund Stock Up 0.3%

NYSE:PCQ traded up $0.03 on Friday, reaching $8.76. 62,712 shares of the company’s stock were exchanged, compared to its average volume of 145,242. The business has a fifty day moving average of $8.80 and a 200-day moving average of $8.81. PIMCO California Municipal Income Fund has a 52-week low of $8.23 and a 52-week high of $9.19.

PIMCO California Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.036 per share. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 4.9%.

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.