Concorde Asset Management LLC Acquires New Stake in PIMCO Municipal Income Fund III (NYSE:PMX)

Concorde Asset Management LLC acquired a new stake in shares of PIMCO Municipal Income Fund III (NYSE:PMX) in the third quarter, HoldingsChannel reports. The institutional investor acquired 10,980 shares of the investment management company’s stock, valued at approximately $91,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in PIMCO Municipal Income Fund III by 34.0% during the 1st quarter. Advisors Asset Management Inc. now owns 425,100 shares of the investment management company’s stock valued at $3,175,000 after buying an additional 107,839 shares in the last quarter. Park Avenue Securities LLC increased its position in PIMCO Municipal Income Fund III by 1.8% during the 2nd quarter. Park Avenue Securities LLC now owns 124,251 shares of the investment management company’s stock valued at $979,000 after buying an additional 2,252 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in PIMCO Municipal Income Fund III by 1,688.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 480,981 shares of the investment management company’s stock valued at $3,790,000 after buying an additional 454,080 shares in the last quarter. Fortitude Family Office LLC bought a new position in PIMCO Municipal Income Fund III during the 3rd quarter valued at approximately $156,000. Finally, Commonwealth Equity Services LLC increased its position in PIMCO Municipal Income Fund III by 17.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 44,446 shares of the investment management company’s stock valued at $350,000 after buying an additional 6,704 shares in the last quarter.

PIMCO Municipal Income Fund III Trading Up 0.2 %

Shares of PMX opened at $7.75 on Friday. The business’s fifty day simple moving average is $8.05 and its two-hundred day simple moving average is $7.85. PIMCO Municipal Income Fund III has a 12 month low of $7.02 and a 12 month high of $8.52.

PIMCO Municipal Income Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.033 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.40 annualized dividend and a yield of 5.11%.

PIMCO Municipal Income Fund III Company Profile

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and 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. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax.