PIMCO California Municipal Income Fund (NYSE:PCQ) to Issue Monthly Dividend of $0.04

PIMCO California Municipal Income Fund (NYSE:PCQ) announced a monthly dividend on Monday, November 2nd. Stockholders of record on Friday, November 13th will be given a dividend of $0.0360 per share by the investment management company on Tuesday, December 1st. This represents a $0.43 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, November 13th.

PIMCO California Municipal Income Fund Trading Down 0.7%

Shares of NYSE:PCQ traded down $0.06 during midday trading on Tuesday, hitting $8.16. 94,305 shares of the company’s stock were exchanged, compared to its average volume of 167,135. PIMCO California Municipal Income Fund has a 12 month low of $7.57 and a 12 month high of $9.19. The stock has a 50 day moving average price of $8.12 and a 200-day moving average price of $8.65.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC increased its holdings in PIMCO California Municipal Income Fund by 2.5% during the 2nd quarter. Rivernorth Capital Management LLC now owns 2,575,012 shares of the investment management company’s stock worth $23,098,000 after purchasing an additional 63,012 shares in the last quarter. Almitas Capital LLC bought a new position in shares of PIMCO California Municipal Income Fund in the second quarter valued at approximately $6,374,000. Robinson Capital Management LLC lifted its holdings in shares of PIMCO California Municipal Income Fund by 8.5% in the second quarter. Robinson Capital Management LLC now owns 637,256 shares of the investment management company’s stock valued at $5,716,000 after purchasing an additional 49,787 shares in the last quarter. Williams & Novak Wealth Management LLC boosted its position in shares of PIMCO California Municipal Income Fund by 30.4% during the third quarter. Williams & Novak Wealth Management LLC now owns 476,148 shares of the investment management company’s stock valued at $3,671,000 after buying an additional 110,950 shares during the last quarter. Finally, Altium Capital Management LLC boosted its position in shares of PIMCO California Municipal Income Fund by 28.6% during the first quarter. Altium Capital Management LLC now owns 333,093 shares of the investment management company’s stock valued at $2,858,000 after buying an additional 74,001 shares during the last quarter.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end investment fund managed by Pacific Investment Management Company LLC (PIMCO). The fund’s primary objective is to provide current income that is exempt from regular federal income tax and California state income tax, subject to applicable tax rules.

To pursue its objective, PCQ invests primarily in municipal securities issued by the state of California, its cities, counties, districts and other local governmental entities, as well as related public-purpose organizations.