Short Interest in PIMCO California Municipal Income Fund III (NYSE:PZC) Increases By 390.0%

PIMCO California Municipal Income Fund III (NYSE:PZC) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 4,900 shares, an increase of 390.0% from the September 30th total of 1,000 shares. Based on an average trading volume of 53,700 shares, the days-to-cover ratio is presently 0.1 days.

PIMCO California Municipal Income Fund III Stock Performance

Shares of PZC traded up $0.06 during midday trading on Friday, hitting $7.35. 26,353 shares of the stock traded hands, compared to its average volume of 49,354. PIMCO California Municipal Income Fund III has a 1-year low of $6.38 and a 1-year high of $7.90. The business’s 50 day moving average price is $7.40 and its two-hundred day moving average price is $7.25.

PIMCO California Municipal Income Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 11th will be issued a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Friday, October 11th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund III

Hedge funds and other institutional investors have recently modified their holdings of the company. Logan Stone Capital LLC acquired a new stake in PIMCO California Municipal Income Fund III in the second quarter worth about $83,000. Wolverine Asset Management LLC lifted its holdings in PIMCO California Municipal Income Fund III by 5,134.2% in the second quarter. Wolverine Asset Management LLC now owns 31,405 shares of the investment management company’s stock worth $225,000 after purchasing an additional 30,805 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in PIMCO California Municipal Income Fund III by 5.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 483,955 shares of the investment management company’s stock worth $3,673,000 after purchasing an additional 25,453 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in PIMCO California Municipal Income Fund III by 12.8% in the first quarter. Advisors Asset Management Inc. now owns 654,727 shares of the investment management company’s stock worth $4,969,000 after purchasing an additional 74,055 shares during the period.

PIMCO California Municipal Income Fund III Company Profile

PIMCO California Municipal Income Fund III is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets. It seeks to invest in stocks of companies operating across diversified sectors.