Short Interest in PIMCO Municipal Income Fund III (NYSE:PMX) Rises By 228.9%

PIMCO Municipal Income Fund III (NYSE:PMX) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 46,700 shares, a growth of 228.9% from the February 13th total of 14,200 shares. Based on an average daily volume of 120,900 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On PIMCO Municipal Income Fund III

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new position in PIMCO Municipal Income Fund III in the fourth quarter valued at $67,000. Two Sigma Securities LLC purchased a new position in shares of PIMCO Municipal Income Fund III in the 4th quarter valued at about $80,000. Citadel Advisors LLC acquired a new position in shares of PIMCO Municipal Income Fund III during the fourth quarter worth about $80,000. Logan Stone Capital LLC purchased a new stake in shares of PIMCO Municipal Income Fund III during the fourth quarter worth approximately $87,000. Finally, Concorde Asset Management LLC purchased a new stake in shares of PIMCO Municipal Income Fund III during the third quarter worth approximately $91,000.

PIMCO Municipal Income Fund III Price Performance

PMX stock traded down $0.04 during trading on Thursday, reaching $7.22. 34,978 shares of the stock were exchanged, compared to its average volume of 88,843. The business has a 50 day moving average price of $7.37 and a 200-day moving average price of $7.72. PIMCO Municipal Income Fund III has a 1 year low of $7.09 and a 1 year high of $8.52.

PIMCO Municipal Income Fund III Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.033 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date of this dividend is Thursday, March 13th.

About PIMCO Municipal Income Fund III

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.