PIMCO Municipal Income Fund III (NYSE:PMX) Stock Passes Below Two Hundred Day Moving Average of $7.21

Shares of PIMCO Municipal Income Fund III (NYSE:PMX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.21 and traded as low as $7.20. PIMCO Municipal Income Fund III shares last traded at $7.37, with a volume of 161,339 shares.

PIMCO Municipal Income Fund III Trading Up 2.3 %

The company’s fifty day simple moving average is $7.50 and its two-hundred day simple moving average is $7.21.

PIMCO Municipal Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Thursday, April 11th will be issued a $0.033 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.38%. The ex-dividend date is Wednesday, April 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PMX. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of PIMCO Municipal Income Fund III by 468.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 58,243 shares of the investment management company’s stock valued at $604,000 after buying an additional 48,000 shares during the period. Private Advisor Group LLC acquired a new position in shares of PIMCO Municipal Income Fund III during the first quarter valued at $111,000. UBS Group AG increased its holdings in shares of PIMCO Municipal Income Fund III by 82.9% in the 1st quarter. UBS Group AG now owns 570,368 shares of the investment management company’s stock worth $5,915,000 after acquiring an additional 258,533 shares during the period. Cohen & Steers Inc. increased its holdings in shares of PIMCO Municipal Income Fund III by 176.9% in the 1st quarter. Cohen & Steers Inc. now owns 98,401 shares of the investment management company’s stock worth $1,020,000 after acquiring an additional 62,870 shares during the period. Finally, Rivernorth Capital Management LLC acquired a new stake in shares of PIMCO Municipal Income Fund III in the 1st quarter worth about $651,000.

PIMCO Municipal Income Fund III Company Profile

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.