Short Interest in PIMCO Municipal Income Fund III (NYSE:PMX) Declines By 24.4%

PIMCO Municipal Income Fund III (NYSE:PMX) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 87,200 shares, a drop of 24.4% from the October 15th total of 115,400 shares. Based on an average daily trading volume, of 88,000 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Investors Weigh In On PIMCO Municipal Income Fund III

A number of institutional investors have recently modified their holdings of the business. Plimoth Trust Co. LLC bought a new position in PIMCO Municipal Income Fund III during the 3rd quarter worth $84,000. Concorde Asset Management LLC acquired a new position in PIMCO Municipal Income Fund III in the third quarter worth approximately $91,000. Arbor Trust Wealth Advisors LLC acquired a new position in PIMCO Municipal Income Fund III in the 2nd quarter worth approximately $103,000. Virtu Financial LLC purchased a new position in PIMCO Municipal Income Fund III during the 1st quarter worth approximately $130,000. Finally, Fortitude Family Office LLC acquired a new stake in PIMCO Municipal Income Fund III during the 3rd quarter valued at $156,000.

PIMCO Municipal Income Fund III Stock Down 0.4 %

PIMCO Municipal Income Fund III stock traded down $0.03 during midday trading on Friday, hitting $7.84. The stock had a trading volume of 34,781 shares, compared to its average volume of 94,912. The business has a fifty day moving average price of $8.09 and a 200 day moving average price of $7.84. PIMCO Municipal Income Fund III has a 12 month low of $7.02 and a 12 month high of $8.52.

PIMCO Municipal Income Fund III Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.033 per share. This represents a $0.40 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Tuesday, November 12th.

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.