PIMCO California Municipal Income Fund II (NYSE:PCK) Shares Pass Below 200 Day Moving Average – Time to Sell?

Shares of PIMCO California Municipal Income Fund II (NYSE:PCK) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.96 and traded as low as $5.59. PIMCO California Municipal Income Fund II shares last traded at $5.63, with a volume of 393,256 shares traded.

PIMCO California Municipal Income Fund II Trading Down 2.3 %

The stock’s 50-day simple moving average is $5.85 and its 200 day simple moving average is $5.96.

PIMCO California Municipal Income Fund II Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Monday, January 13th will be paid a $0.0215 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.26 dividend on an annualized basis and a yield of 4.58%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund II

Several hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. acquired a new position in shares of PIMCO California Municipal Income Fund II in the third quarter valued at approximately $547,000. City of London Investment Management Co. Ltd. increased its position in PIMCO California Municipal Income Fund II by 29.9% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 267,495 shares of the closed-end fund’s stock worth $1,565,000 after buying an additional 61,501 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of PIMCO California Municipal Income Fund II by 12.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 548,303 shares of the closed-end fund’s stock worth $3,443,000 after buying an additional 60,054 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of PIMCO California Municipal Income Fund II during the third quarter worth $100,000. Finally, Almitas Capital LLC bought a new stake in shares of PIMCO California Municipal Income Fund II in the second quarter valued at about $64,000.

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.