PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.71 and traded as high as $8.74. PIMCO California Municipal Income Fund shares last traded at $8.72, with a volume of 76,296 shares trading hands.

PIMCO California Municipal Income Fund Stock Up 0.7%

The company’s fifty day moving average price is $8.71 and its two-hundred day moving average price is $8.82.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently announced 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%.

Institutional Trading of PIMCO California Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in PCQ. Advisors Asset Management Inc. boosted its holdings in PIMCO California Municipal Income Fund by 171.9% during the third quarter. Advisors Asset Management Inc. now owns 1,160,051 shares of the investment management company’s stock worth $10,116,000 after buying an additional 733,431 shares in the last quarter. Almitas Capital LLC boosted its holdings in PIMCO California Municipal Income Fund by 318.7% during the fourth quarter. Almitas Capital LLC now owns 640,607 shares of the investment management company’s stock worth $5,592,000 after buying an additional 487,609 shares in the last quarter. Verition Fund Management LLC boosted its holdings in PIMCO California Municipal Income Fund by 195.1% during the fourth quarter. Verition Fund Management LLC now owns 460,872 shares of the investment management company’s stock worth $4,023,000 after buying an additional 304,678 shares in the last quarter. Altium Capital Management LLC purchased a new stake in PIMCO California Municipal Income Fund during the fourth quarter worth about $2,262,000. Finally, Guggenheim Capital LLC boosted its holdings in PIMCO California Municipal Income Fund by 21.3% during the fourth quarter. Guggenheim Capital LLC now owns 1,212,418 shares of the investment management company’s stock worth $10,584,000 after buying an additional 213,149 shares in 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.