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

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.83 and traded as low as $8.62. PIMCO California Municipal Income Fund shares last traded at $8.6450, with a volume of 77,767 shares.

PIMCO California Municipal Income Fund Trading Up 0.8%

The stock has a fifty day simple moving average of $8.72 and a 200-day simple moving average of $8.83.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a $0.036 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 5.0%.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new position in PIMCO California Municipal Income Fund in the 3rd quarter worth $27,000. Smartleaf Asset Management LLC acquired a new stake in shares of PIMCO California Municipal Income Fund in the fourth quarter valued at about $27,000. Elyxium Wealth LLC bought a new stake in PIMCO California Municipal Income Fund during the fourth quarter worth $43,000. Tortoise Investment Management LLC bought a new stake in PIMCO California Municipal Income Fund during the third quarter worth $55,000. Finally, Farther Finance Advisors LLC raised 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 acquiring an additional 3,350 shares in the last quarter.

PIMCO California Municipal Income Fund Company Profile

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.