PIMCO California Municipal Income Fund III (NYSE:PZC) Stock Price Crosses Above 50-Day Moving Average of $7.42

PIMCO California Municipal Income Fund III (NYSE:PZCGet Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.42 and traded as high as $7.90. PIMCO California Municipal Income Fund III shares last traded at $7.75, with a volume of 77,607 shares changing hands.

PIMCO California Municipal Income Fund III Stock Up 0.9 %

The stock has a 50 day simple moving average of $7.44 and a two-hundred day simple moving average of $7.20.

PIMCO California Municipal Income Fund III Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 12th will be issued a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, February 9th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in PIMCO California Municipal Income Fund III by 22.9% in the second quarter. Royal Bank of Canada now owns 11,548 shares of the investment management company’s stock valued at $89,000 after purchasing an additional 2,150 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of PIMCO California Municipal Income Fund III by 8.0% in the second quarter. Cetera Investment Advisers now owns 30,887 shares of the investment management company’s stock valued at $238,000 after acquiring an additional 2,300 shares in the last quarter. UBS Group AG lifted its position in shares of PIMCO California Municipal Income Fund III by 1.3% in the fourth quarter. UBS Group AG now owns 213,182 shares of the investment management company’s stock valued at $1,571,000 after acquiring an additional 2,643 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of PIMCO California Municipal Income Fund III by 7.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 50,228 shares of the investment management company’s stock valued at $387,000 after acquiring an additional 3,471 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of PIMCO California Municipal Income Fund III by 11.7% in the fourth quarter. Bank of America Corp DE now owns 43,617 shares of the investment management company’s stock valued at $364,000 after acquiring an additional 4,552 shares in the last quarter.

About PIMCO California Municipal Income Fund III

(Get Free Report)

PIMCO California Municipal Income Fund III is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets. It seeks to invest in stocks of companies operating across diversified sectors.

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