Institutional Investors Are Betting On Pimco California Municipal Income Fund (NYSE:PCQ)

June 20, 2017 - By Marie Mckinney

 Institutional Investors Are Betting On Pimco California Municipal Income Fund (NYSE:PCQ)

Sentiment for Pimco California Municipal Income Fund (NYSE:PCQ)

Pimco California Municipal Income Fund (NYSE:PCQ) institutional sentiment increased to 1.57 in 2016 Q4. Its up 0.67, from 0.9 in 2016Q3. The ratio has increased, as 11 investment professionals increased or opened new equity positions, while 7 reduced and sold their stock positions in Pimco California Municipal Income Fund. The investment professionals in our partner’s database now own: 859,850 shares, down from 874,138 shares in 2016Q3. Also, the number of investment professionals holding Pimco California Municipal Income Fund in their top 10 equity positions was flat from 0 to 0 for the same number . Sold All: 3 Reduced: 4 Increased: 6 New Position: 5.

PIMCO California Municipal Income Fund is a diversified, closed-end management investment company. The company has market cap of $314.84 million. The Fund’s primary investment objective is to seek current income exempt from federal and California income tax. It currently has negative earnings. The Fund invests approximately 90% of its net assets (and over 80% of its net assets plus any borrowings for investment purposes) in municipal bonds that pay interest that is exempt from federal and California income tax.

About 10,402 shares traded. Pimco CA Municipal Income Fund (NYSE:PCQ) has risen 2.70% since June 20, 2016 and is uptrending. It has underperformed by 14.00% the S&P500.

San Francisco Sentry Investment Group (Ca) holds 0.22% of its portfolio in Pimco CA Municipal Income Fund for 24,145 shares. Mechanics Bank Trust Department owns 47,250 shares or 0.18% of their US portfolio. Moreover, Tiedemann Wealth Management Llc has 0.11% invested in the company for 73,079 shares. The Missouri-based Moneta Group Investment Advisors Llc has invested 0.05% in the stock. Montecito Bank & Trust, a California-based fund reported 4,948 shares.#img1#

More notable recent Pimco CA Municipal Income Fund (NYSE:PCQ) news were published by: Nasdaq.com which released: “PIMCO California Municipal Income Fund III (PZC) Ex-Dividend Date Scheduled …” on June 07, 2017, also Seekingalpha.com with their article: “Expanding Arbitrage In Pimco Municipal Bond CEFs” published on May 10, 2017, Seekingalpha.com published: “PZC: Hey Pal – Why The High Premium?” on May 15, 2017. More interesting news about Pimco CA Municipal Income Fund (NYSE:PCQ) were released by: Seekingalpha.com and their article: “PIMCO Distribution Cuts: The Muni Bond CEFs” published on February 03, 2017 as well as Seekingalpha.com‘s news article titled: “17% Arbitrage Opportunity In Pimco Funds” with publication date: March 06, 2017.

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