PIMCO California Municipal Income Fund (NYSE:PCQ) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.82 and traded as low as $8.79. PIMCO California Municipal Income Fund shares last traded at $8.8350, with a volume of 174,133 shares trading hands.

PIMCO California Municipal Income Fund Stock Up 0.4%

The firm’s 50 day moving average price is $8.75 and its two-hundred day moving average price is $8.82.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be issued a $0.036 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) annualized dividend and a yield of 4.9%.

Institutional Trading of PIMCO California Municipal Income Fund

Institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC acquired a new stake in PIMCO California Municipal Income Fund in the fourth quarter valued at $27,000. Elyxium Wealth LLC acquired a new stake in PIMCO California Municipal Income Fund in the fourth quarter valued at $43,000. Tortoise Investment Management LLC acquired a new stake in PIMCO California Municipal Income Fund in the third quarter valued at $55,000. Farther Finance Advisors LLC raised its holdings in PIMCO California Municipal Income Fund by 107.6% in the fourth quarter. Farther Finance Advisors LLC now owns 6,464 shares of the investment management company’s stock valued at $56,000 after acquiring an additional 3,350 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in PIMCO California Municipal Income Fund in the second quarter valued at $87,000.

About PIMCO California Municipal Income Fund

PIMCO California Municipal Income Fund (NYSE: PCQ) is a closed-end management investment company that seeks to provide high current income exempt from federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by entities within the State of California, with an emphasis on credit quality and income generation. Its strategy is designed to appeal to investors seeking tax-advantaged yields alongside professional portfolio management.

The fund generally allocates at least 80% of its total assets to municipal securities that are of investment grade or higher, covering a broad spectrum of sectors such as transportation, utilities, education, health care and local government obligations.