PIMCO California Municipal Income Fund II (NYSE:PCK) Sees Large Increase in Short Interest

PIMCO California Municipal Income Fund II (NYSE:PCK) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 52,900 shares, an increase of 34.6% from the January 31st total of 39,300 shares. Based on an average daily trading volume, of 141,700 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Almitas Capital LLC acquired a new stake in PIMCO California Municipal Income Fund II in the fourth quarter worth about $59,000. Virtu Financial LLC bought a new stake in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth about $70,000. Citadel Advisors LLC bought a new stake in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth about $75,000. Two Sigma Securities LLC bought a new stake in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth about $81,000. Finally, Morse Asset Management Inc bought a new stake in shares of PIMCO California Municipal Income Fund II during the 3rd quarter worth about $100,000.

PIMCO California Municipal Income Fund II Stock Down 0.2 %

Shares of NYSE:PCK opened at $5.95 on Tuesday. The firm has a 50-day simple moving average of $5.76 and a 200 day simple moving average of $5.93. PIMCO California Municipal Income Fund II has a fifty-two week low of $5.50 and a fifty-two week high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, February 13th were paid a dividend of $0.0215 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Thursday, February 13th.

About PIMCO California Municipal Income Fund II

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.