Short Interest in PIMCO Municipal Income Fund III (NYSE:PMX) Increases By 228.9%

PIMCO Municipal Income Fund III (NYSE:PMX) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 46,700 shares, a growth of 228.9% from the February 13th total of 14,200 shares. Based on an average trading volume of 120,900 shares, the short-interest ratio is currently 0.4 days.

PIMCO Municipal Income Fund III Price Performance

Shares of NYSE PMX traded up $0.00 on Friday, reaching $7.25. 97,964 shares of the company’s stock traded hands, compared to its average volume of 89,473. The business’s 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $7.72. PIMCO Municipal Income Fund III has a 12 month low of $7.09 and a 12 month high of $8.52.

PIMCO Municipal Income Fund III Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a $0.033 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Thursday, March 13th.

Hedge Funds Weigh In On PIMCO Municipal Income Fund III

A number of hedge funds have recently bought and sold shares of PMX. Advisors Asset Management Inc. lifted its stake in shares of PIMCO Municipal Income Fund III by 16.2% in the third quarter. Advisors Asset Management Inc. now owns 641,135 shares of the investment management company’s stock worth $5,296,000 after buying an additional 89,512 shares in the last quarter. Concorde Asset Management LLC bought a new stake in shares of PIMCO Municipal Income Fund III in the 3rd quarter worth $91,000. Jane Street Group LLC purchased a new position in shares of PIMCO Municipal Income Fund III in the third quarter worth $361,000. Integrated Capital Management Inc. boosted its position in shares of PIMCO Municipal Income Fund III by 7.8% during the fourth quarter. Integrated Capital Management Inc. now owns 25,387 shares of the investment management company’s stock valued at $187,000 after buying an additional 1,841 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in PIMCO Municipal Income Fund III by 6.3% in the 4th quarter. Park Avenue Securities LLC now owns 126,068 shares of the investment management company’s stock worth $928,000 after buying an additional 7,490 shares in the last quarter.

About PIMCO Municipal Income Fund III

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.