PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Passes Below 200-Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.82 and traded as low as $8.79. PIMCO California Municipal Income Fund shares last traded at $8.8350, with a volume of 174,133 shares.

PIMCO California Municipal Income Fund Trading Up 0.4%

The business’s fifty day moving average price is $8.75 and its 200 day moving average price is $8.82.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be issued 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 4.9%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Institutional investors have recently bought and sold shares of the stock. Elyxium Wealth LLC acquired a new position in PIMCO California Municipal Income Fund during the fourth quarter worth approximately $43,000. Farther Finance Advisors LLC increased its position in PIMCO California Municipal Income Fund by 107.6% during the fourth quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock worth $56,000 after purchasing an additional 3,350 shares during the last quarter. Morse Asset Management Inc increased its position in PIMCO California Municipal Income Fund by 79.5% during the fourth quarter. Morse Asset Management Inc now owns 17,235 shares of the investment management company’s stock worth $150,000 after purchasing an additional 7,635 shares during the last quarter. PFG Investments LLC increased its position in PIMCO California Municipal Income Fund by 28.1% during the fourth quarter. PFG Investments LLC now owns 38,106 shares of the investment management company’s stock worth $333,000 after purchasing an additional 8,366 shares during the last quarter. Finally, Melfa Wealth Management Inc. increased its position in PIMCO California Municipal Income Fund by 12.7% during the fourth quarter. Melfa Wealth Management Inc. now owns 200,176 shares of the investment management company’s stock worth $1,748,000 after purchasing an additional 22,500 shares during the last quarter.

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.