PIMCO California Municipal Income Fund II (NYSE:PCK) Sees Large Decline in Short Interest

PIMCO California Municipal Income Fund II (NYSE:PCK) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 43,400 shares, a drop 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.

PIMCO California Municipal Income Fund II Stock Performance

PCK stock traded down $0.05 during mid-day trading on Tuesday, hitting $5.71. 83,770 shares of the company were exchanged, compared to its average volume of 94,989. PIMCO California Municipal Income Fund II has a 1-year low of $5.50 and a 1-year high of $6.34. The firm’s 50 day simple moving average is $5.78 and its 200 day simple moving average is $5.92.

PIMCO California Municipal Income Fund II Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a $0.0215 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.52%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Morse Asset Management Inc boosted its holdings in shares of PIMCO California Municipal Income Fund II by 52.5% during the 4th quarter. Morse Asset Management Inc now owns 24,401 shares of the closed-end fund’s stock worth $140,000 after buying an additional 8,399 shares in the last quarter. Almitas Capital LLC purchased a new stake in shares of PIMCO California Municipal Income Fund II during the 4th quarter valued at $59,000. Virtu Financial LLC bought a new position in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth $70,000. Blue Bell Private Wealth Management LLC grew its stake in shares of PIMCO California Municipal Income Fund II by 59.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 34,963 shares of the closed-end fund’s stock worth $200,000 after acquiring an additional 13,033 shares during the period. Finally, Citadel Advisors LLC purchased a new position in PIMCO California Municipal Income Fund II during the 4th quarter valued at about $75,000.

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.