PIMCO Municipal Income Fund III (NYSE:PMX) Sees Significant Decrease in Short Interest

PIMCO Municipal Income Fund III (NYSE:PMX) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 37,000 shares, a drop of 20.8% from the February 28th total of 46,700 shares. Based on an average daily volume of 112,100 shares, the days-to-cover ratio is presently 0.3 days.

PIMCO Municipal Income Fund III Stock Performance

PMX remained flat at $7.21 during trading hours on Wednesday. 101,550 shares of the company traded hands, compared to its average volume of 103,022. The firm has a 50 day moving average of $7.35 and a 200-day moving average of $7.63. PIMCO Municipal Income Fund III has a 12 month low of $7.07 and a 12 month high of $8.52.

PIMCO Municipal Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were given a dividend of $0.033 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 5.49%.

Hedge Funds Weigh In On PIMCO Municipal Income Fund III

Large investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its stake in shares of PIMCO Municipal Income Fund III by 7.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 864,517 shares of the investment management company’s stock valued at $6,363,000 after acquiring an additional 60,052 shares during the period. Guggenheim Capital LLC boosted its position in shares of PIMCO Municipal Income Fund III by 13.5% during the fourth quarter. Guggenheim Capital LLC now owns 726,528 shares of the investment management company’s stock valued at $5,347,000 after buying an additional 86,535 shares during the period. Wells Fargo & Company MN grew its stake in shares of PIMCO Municipal Income Fund III by 67.1% during the fourth quarter. Wells Fargo & Company MN now owns 534,268 shares of the investment management company’s stock valued at $3,932,000 after buying an additional 214,591 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of PIMCO Municipal Income Fund III by 6.1% in the fourth quarter. Stifel Financial Corp now owns 317,290 shares of the investment management company’s stock worth $2,335,000 after buying an additional 18,330 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of PIMCO Municipal Income Fund III by 6.7% during the 4th quarter. Van ECK Associates Corp now owns 176,973 shares of the investment management company’s stock worth $1,303,000 after acquiring an additional 11,126 shares during the last quarter.

PIMCO Municipal Income Fund III Company Profile

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.