PIMCO California Municipal Income Fund (NYSE:PCQ) Short Interest Down 44.5% in June

PIMCO California Municipal Income Fund (NYSE:PCQ) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 78,576 shares, a decline of 44.5% from the May 31st total of 141,651 shares. Based on an average daily volume of 158,602 shares, the short-interest ratio is currently 0.5 days.

PIMCO California Municipal Income Fund Price Performance

PIMCO California Municipal Income Fund stock traded up $0.01 during midday trading on Wednesday, hitting $8.98. 117,784 shares of the company’s stock were exchanged, compared to its average volume of 148,151. The stock has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $8.83. PIMCO California Municipal Income Fund has a 52-week low of $8.16 and a 52-week high of $9.19.

PIMCO California Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 11th will be given a dividend of $0.036 per share. This represents a c) dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Several hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC bought a new stake in PIMCO California Municipal Income Fund in the 4th quarter worth about $27,000. Elyxium Wealth LLC bought a new stake in shares of PIMCO California Municipal Income Fund in the fourth quarter worth approximately $43,000. Tortoise Investment Management LLC purchased a new position in shares of PIMCO California Municipal Income Fund during the third quarter valued at approximately $55,000. Farther Finance Advisors LLC lifted 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 valued at $56,000 after purchasing an additional 3,350 shares during the period. Finally, Baird Financial Group Inc. bought a new position in PIMCO California Municipal Income Fund during the second quarter valued at approximately $87,000.

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.