Advisors Asset Management Inc. Grows Position in PIMCO California Municipal Income Fund II (NYSE:PCK)

Advisors Asset Management Inc. increased its holdings in PIMCO California Municipal Income Fund II (NYSE:PCK) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 667,468 shares of the closed-end fund’s stock after acquiring an additional 26,791 shares during the quarter. Advisors Asset Management Inc.’s holdings in PIMCO California Municipal Income Fund II were worth $3,818,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new stake in PIMCO California Municipal Income Fund II in the third quarter worth about $100,000. Abound Financial LLC purchased a new stake in PIMCO California Municipal Income Fund II in the fourth quarter worth about $113,000. Silicon Valley Capital Partners purchased a new stake in PIMCO California Municipal Income Fund II in the fourth quarter worth about $134,000. Blue Bell Private Wealth Management LLC lifted its stake in PIMCO California Municipal Income Fund II by 59.4% in the fourth 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, Raymond James Financial Inc. purchased a new stake in PIMCO California Municipal Income Fund II in the fourth quarter worth about $239,000.

PIMCO California Municipal Income Fund II Stock Up 1.1 %

NYSE:PCK opened at $5.77 on Friday. The company has a 50-day moving average of $5.78 and a 200 day moving average of $5.91. PIMCO California Municipal Income Fund II has a 1-year low of $5.50 and a 1-year high of $6.34.

PIMCO California Municipal Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be issued 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 yield of 4.48%.

PIMCO California Municipal Income Fund II 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.