PIMCO California Municipal Income Fund (NYSE:PCQ) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of PIMCO California Municipal Income Fund (NYSE:PCQ) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.45 and traded as low as $8.93. PIMCO California Municipal Income Fund shares last traded at $8.97, with a volume of 19,129 shares trading hands.

PIMCO California Municipal Income Fund Stock Performance

The company’s 50-day moving average is $9.08 and its two-hundred day moving average is $9.45.

PIMCO California Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.036 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.43 annualized dividend and a dividend yield of 4.84%.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCQ. Morse Asset Management Inc acquired a new stake in shares of PIMCO California Municipal Income Fund in the third quarter valued at about $136,000. Saba Capital Management L.P. acquired a new position in shares of PIMCO California Municipal Income Fund in the 4th quarter valued at about $150,000. Virtu Financial LLC bought a new stake in shares of PIMCO California Municipal Income Fund during the 3rd quarter valued at about $250,000. Rockefeller Capital Management L.P. bought a new stake in PIMCO California Municipal Income Fund in the third quarter worth approximately $269,000. Finally, Citadel Advisors LLC bought a new stake in PIMCO California Municipal Income Fund in the fourth quarter worth approximately $253,000.

About PIMCO California Municipal Income Fund

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