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PCQ - PCQ: Don't Pull A Muscle While Stretching For Yield
PIMCO California Municipal Income Fund
Main Thesis
The purpose of this article is to evaluate the PIMCO California Municipal Income Fund (PCQ) as an investment option at its current market price. This is a fund I have favored for some time, and investors have been reaping double-digit rewards as 2019 has progressed. This is due to strong demand for municipal (muni) debt, particularly in high-tax states, such as California. While investors have been drawn to muni debt in most high-tax states, Californians have also benefited from a stronger financial backdrop, with the government reporting a budget surplus as