Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Decreases By 47.2%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 22,500 shares, a decrease of 47.2% from the September 30th total of 42,600 shares. Based on an average daily volume of 91,100 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of PIMCO California Municipal Income Fund II

A number of institutional investors and hedge funds have recently bought and sold shares of PCK. Matisse Capital grew its position in shares of PIMCO California Municipal Income Fund II by 22.3% during the first quarter. Matisse Capital now owns 328,504 shares of the closed-end fund’s stock worth $1,895,000 after buying an additional 59,921 shares in the last quarter. SageView Advisory Group LLC acquired a new position in PIMCO California Municipal Income Fund II during the 1st quarter worth $59,000. City of London Investment Management Co. Ltd. bought a new stake in shares of PIMCO California Municipal Income Fund II in the 1st quarter worth about $1,189,000. Advisors Asset Management Inc. raised its stake in shares of PIMCO California Municipal Income Fund II by 11.8% in the 1st quarter. Advisors Asset Management Inc. now owns 866,798 shares of the closed-end fund’s stock valued at $5,001,000 after purchasing an additional 91,721 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of PIMCO California Municipal Income Fund II during the first quarter worth about $74,000.

PIMCO California Municipal Income Fund II Price Performance

NYSE PCK traded down $0.01 during trading hours on Friday, reaching $5.99. The company’s stock had a trading volume of 38,456 shares, compared to its average volume of 78,100. The company’s 50-day moving average is $6.11 and its two-hundred day moving average is $5.92. PIMCO California Municipal Income Fund II has a fifty-two week low of $4.93 and a fifty-two week high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be given a dividend of $0.0215 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, October 11th.

PIMCO California Municipal Income Fund II Company Profile

PIMCO California Municipal Income Fund II 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 of United States. It seeks to invest in stocks of companies operating across diversified sectors.