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

PIMCO California Municipal Income Fund II (NYSE:PCK) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 67,300 shares, a growth of 55.1% from the February 28th total of 43,400 shares. Based on an average daily volume of 124,300 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On PIMCO California Municipal Income Fund II

A number of hedge funds have recently bought and sold shares of PCK. Almitas Capital LLC acquired a new stake in PIMCO California Municipal Income Fund II during the 4th quarter worth about $59,000. Virtu Financial LLC bought a new stake in PIMCO California Municipal Income Fund II in the fourth quarter worth approximately $70,000. Citadel Advisors LLC acquired a new position in PIMCO California Municipal Income Fund II in the fourth quarter valued at approximately $75,000. Two Sigma Securities LLC bought a new position in shares of PIMCO California Municipal Income Fund II during the 4th quarter worth approximately $81,000. Finally, Morse Asset Management Inc acquired a new stake in shares of PIMCO California Municipal Income Fund II during the 3rd quarter worth approximately $100,000.

PIMCO California Municipal Income Fund II Stock Down 0.2 %

PCK traded down $0.01 during midday trading on Friday, hitting $5.67. 54,476 shares of the company were exchanged, compared to its average volume of 95,445. The firm’s 50 day moving average price is $5.80 and its 200-day moving average price is $5.90. 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 disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be paid a $0.0215 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Thursday, March 13th.

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.