PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

PIMCO California Municipal Income Fund (NYSE:PCQ) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.71 and traded as high as $8.74. PIMCO California Municipal Income Fund shares last traded at $8.72, with a volume of 76,296 shares.

PIMCO California Municipal Income Fund Trading Up 0.7%

The business’s 50-day simple moving average is $8.71 and its 200-day simple moving average is $8.82.

PIMCO California Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a $0.036 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, May 11th.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund

A number of institutional investors have recently modified their holdings of PCQ. Golden State Wealth Management LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the third quarter valued at approximately $27,000. Smartleaf Asset Management LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the fourth quarter valued at approximately $43,000. Tortoise Investment Management LLC acquired a new position in shares of PIMCO California Municipal Income Fund in the third quarter valued at approximately $55,000. Finally, Farther Finance Advisors LLC raised its position in shares of 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 buying an additional 3,350 shares during the last quarter.

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.