PIMCO California Municipal Income Fund II (NYSE:PCK) Short Interest Update

PIMCO California Municipal Income Fund II (NYSE:PCK) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 43,400 shares, a decline of 18.0% from the February 13th total of 52,900 shares. Based on an average trading volume of 137,800 shares, the short-interest ratio is currently 0.3 days.

PIMCO California Municipal Income Fund II Stock Up 1.5 %

PCK traded up $0.09 on Thursday, hitting $5.79. 42,489 shares of the company traded hands, compared to its average volume of 95,062. The company has a 50 day moving average of $5.78 and a 200-day moving average of $5.92. PIMCO California Municipal Income Fund II has a 12-month low of $5.50 and a 12-month high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a dividend of $0.0215 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Thursday, March 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund II

A number of hedge funds and other institutional investors have recently bought and sold shares of PCK. Saba Capital Management L.P. lifted its stake in shares of PIMCO California Municipal Income Fund II by 12.1% in the 4th quarter. Saba Capital Management L.P. now owns 1,417,456 shares of the closed-end fund’s stock worth $8,108,000 after acquiring an additional 152,715 shares during the period. Morse Asset Management Inc boosted its holdings in PIMCO California Municipal Income Fund II by 52.5% in the 4th quarter. Morse Asset Management Inc now owns 24,401 shares of the closed-end fund’s stock valued at $140,000 after purchasing an additional 8,399 shares in the last quarter. Logan Stone Capital LLC increased its position in PIMCO California Municipal Income Fund II by 22.9% during the 4th quarter. Logan Stone Capital LLC now owns 315,434 shares of the closed-end fund’s stock worth $1,804,000 after purchasing an additional 58,751 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth approximately $401,000. Finally, Citadel Advisors LLC acquired a new stake in shares of PIMCO California Municipal Income Fund II in the 4th quarter valued at approximately $75,000.

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.