Summit Trail Advisors LLC Takes $127,000 Position in PIMCO Municipal Income Fund III (NYSE:PMX)

Summit Trail Advisors LLC acquired a new position in PIMCO Municipal Income Fund III (NYSE:PMX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,162 shares of the investment management company’s stock, valued at approximately $127,000.

A number of other hedge funds have also bought and sold shares of PMX. UMB Bank n.a. purchased a new stake in shares of PIMCO Municipal Income Fund III in the fourth quarter worth about $27,000. Centurion Wealth Management LLC purchased a new stake in PIMCO Municipal Income Fund III in the 3rd quarter worth approximately $82,000. Spire Wealth Management boosted its holdings in PIMCO Municipal Income Fund III by 4,423.1% in the 3rd quarter. Spire Wealth Management now owns 12,936 shares of the investment management company’s stock valued at $84,000 after purchasing an additional 12,650 shares during the period. Moody National Bank Trust Division purchased a new position in shares of PIMCO Municipal Income Fund III during the 4th quarter valued at $119,000. Finally, Karpus Management Inc. bought a new position in shares of PIMCO Municipal Income Fund III in the third quarter worth $123,000.

PIMCO Municipal Income Fund III Trading Up 0.1 %

Shares of PMX stock opened at $7.53 on Friday. PIMCO Municipal Income Fund III has a 52-week low of $6.09 and a 52-week high of $8.13. The business’s fifty day moving average is $7.48 and its 200 day moving average is $7.32.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.033 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.26%.

About PIMCO Municipal Income Fund III

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.