Short Interest in PIMCO California Municipal Income Fund II (NYSE:PCK) Decreases By 47.2%

PIMCO California Municipal Income Fund II (NYSE:PCK) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 22,500 shares, a decrease of 47.2% from the September 30th total of 42,600 shares. Based on an average daily trading volume, of 91,100 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On PIMCO California Municipal Income Fund II

Large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of PIMCO California Municipal Income Fund II by 3.7% in the second quarter. Commonwealth Equity Services LLC now owns 62,422 shares of the closed-end fund’s stock valued at $365,000 after buying an additional 2,200 shares during the period. SageView Advisory Group LLC acquired a new stake in PIMCO California Municipal Income Fund II in the 1st quarter valued at about $59,000. Almitas Capital LLC bought a new position in shares of PIMCO California Municipal Income Fund II during the 2nd quarter valued at about $64,000. Cetera Advisors LLC bought a new position in shares of PIMCO California Municipal Income Fund II during the 1st quarter valued at about $74,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of PIMCO California Municipal Income Fund II by 4.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 488,249 shares of the closed-end fund’s stock worth $2,856,000 after purchasing an additional 22,982 shares in the last quarter.

PIMCO California Municipal Income Fund II Stock Down 0.2 %

Shares of PIMCO California Municipal Income Fund II stock traded down $0.01 during trading on Friday, hitting $5.99. 38,456 shares of the stock were exchanged, compared to its average volume of 78,100. PIMCO California Municipal Income Fund II has a 12 month low of $4.93 and a 12 month high of $6.34. The stock’s fifty day moving average is $6.11 and its 200 day moving average is $5.92.

PIMCO California Municipal Income Fund II Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be paid a $0.0215 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.26 annualized dividend and a dividend yield of 4.31%.

PIMCO California Municipal Income Fund II Company Profile

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.