PIMCO California Municipal Income Fund (NYSE:PCQ) Sees Significant Decrease in Short Interest

PIMCO California Municipal Income Fund (NYSE:PCQ) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 78,576 shares, a decline of 44.5% from the May 31st total of 141,651 shares. Based on an average trading volume of 158,602 shares, the days-to-cover ratio is presently 0.5 days.

PIMCO California Municipal Income Fund Stock Performance

PCQ stock traded up $0.01 during midday trading on Thursday, hitting $8.98. The company’s stock had a trading volume of 295,802 shares, compared to its average volume of 149,331. The firm has a 50-day simple moving average of $8.82 and a 200-day simple moving average of $8.83. PIMCO California Municipal Income Fund has a 52-week low of $8.16 and a 52-week high of $9.19.

PIMCO California Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be paid a dividend of $0.036 per share. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, July 13th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in PCQ. Western Wealth Management LLC acquired a new stake in PIMCO California Municipal Income Fund in the first quarter valued at approximately $244,000. Rivernorth Capital Management LLC raised its holdings in shares of PIMCO California Municipal Income Fund by 2.7% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,512,000 shares of the investment management company’s stock valued at $21,553,000 after purchasing an additional 64,938 shares in the last quarter. Whitebox Advisors LLC lifted its position in shares of PIMCO California Municipal Income Fund by 45.5% during the 1st quarter. Whitebox Advisors LLC now owns 284,471 shares of the investment management company’s stock worth $2,441,000 after purchasing an additional 88,995 shares during the last quarter. Altium Capital Management LLC increased its holdings in PIMCO California Municipal Income Fund by 28.6% in the first quarter. Altium Capital Management LLC now owns 333,093 shares of the investment management company’s stock valued at $2,858,000 after buying an additional 74,001 shares during the last quarter. Finally, Granite Investment Partners LLC acquired a new stake in PIMCO California Municipal Income Fund in the first quarter valued at $104,000.

PIMCO California Municipal Income Fund Company Profile

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.