PIMCO California Municipal Income Fund III (NYSE:PZC) Share Price Passes Below 200 Day Moving Average of $7.22

Shares of PIMCO California Municipal Income Fund III (NYSE:PZC) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.22 and traded as low as $6.95. PIMCO California Municipal Income Fund III shares last traded at $7.05, with a volume of 40,757 shares.

PIMCO California Municipal Income Fund III Price Performance

The firm’s 50-day simple moving average is $7.56 and its 200-day simple moving average is $7.22.

PIMCO California Municipal Income Fund III Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Thursday, April 11th will be paid a dividend of $0.0295 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $0.35 annualized dividend and a dividend yield of 5.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its holdings in PIMCO California Municipal Income Fund III by 4.8% during the third quarter. Advisors Asset Management Inc. now owns 541,139 shares of the investment management company’s stock worth $3,707,000 after buying an additional 24,809 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in PIMCO California Municipal Income Fund III by 5.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 483,955 shares of the investment management company’s stock worth $3,673,000 after purchasing an additional 25,453 shares during the last quarter. UBS Group AG increased its position in shares of PIMCO California Municipal Income Fund III by 70.0% during the second quarter. UBS Group AG now owns 353,271 shares of the investment management company’s stock valued at $2,918,000 after acquiring an additional 145,483 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of PIMCO California Municipal Income Fund III by 133.2% during the second quarter. Integrated Wealth Concepts LLC now owns 69,971 shares of the investment management company’s stock valued at $539,000 after acquiring an additional 39,971 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of PIMCO California Municipal Income Fund III by 33.4% in the second quarter. Rockefeller Capital Management L.P. now owns 49,996 shares of the investment management company’s stock valued at $385,000 after purchasing an additional 12,522 shares during the period.

About PIMCO California Municipal Income Fund III

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.