Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Decreases By 18.0%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 43,400 shares, a decline of 18.0% from the February 13th total of 52,900 shares. Based on an average daily volume of 137,800 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund II

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Saba Capital Management L.P. lifted its position in PIMCO California Municipal Income Fund II by 12.1% during the 4th quarter. Saba Capital Management L.P. now owns 1,417,456 shares of the closed-end fund’s stock worth $8,108,000 after acquiring an additional 152,715 shares in the last quarter. Morse Asset Management Inc raised its position in shares of PIMCO California Municipal Income Fund II by 52.5% in the 4th quarter. Morse Asset Management Inc now owns 24,401 shares of the closed-end fund’s stock valued at $140,000 after purchasing an additional 8,399 shares in the last quarter. Logan Stone Capital LLC raised its position in shares of PIMCO California Municipal Income Fund II by 22.9% in the 4th quarter. Logan Stone Capital LLC now owns 315,434 shares of the closed-end fund’s stock valued at $1,804,000 after purchasing an additional 58,751 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of PIMCO California Municipal Income Fund II in the 4th quarter valued at approximately $401,000. Finally, Citadel Advisors LLC acquired a new position in shares of PIMCO California Municipal Income Fund II in the 4th quarter valued at approximately $75,000.

PIMCO California Municipal Income Fund II Stock Up 0.4 %

Shares of NYSE:PCK traded up $0.03 during trading on Wednesday, reaching $5.74. 61,924 shares of the stock were exchanged, compared to its average volume of 95,277. PIMCO California Municipal Income Fund II has a 12-month low of $5.50 and a 12-month high of $6.34. The firm’s 50-day moving average price is $5.78 and its 200 day moving average price is $5.92.

PIMCO California Municipal Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.0215 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Thursday, March 13th.

About PIMCO California Municipal Income Fund II

PIMCO California Municipal Income Fund II 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 of United States. It seeks to invest in stocks of companies operating across diversified sectors.