PCQ News and Press, PIMCO California Municipal Income Fund From 06/17/21

CEF mergers have been running at a fast clip over the past year, likely in response to growing fund expenses as a proportion of portfolio yields. Combined with high premium valuations as well as a divergence in valuations, mergers present a risk for CEF shareholders due to the potenti...

The disparity among PIMCO tax-exempt muni CEFs remains large. Apart from lower income yields, greater susceptibility to distribution cuts and larger drawdown potential, the ongoing consolidation wave in the sector presents another risk for high-premium funds. In our view, investor...

The most recent UNII report showed continued deterioration in the coverage ratios and UNII values of the taxable funds. Coverage ratios were weaker on the taxable side in part because of a weaker dollar relative to the pound. Muni CEF coverage remains very strong. I'm concerned ab...

Twenty-two out of 23 CEF sectors positive on price and 21 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. Limited duration is the highest-yielding CEF sector. For further details see: Weekly Closed-End Fund Roundup: February 7, 2021

PIMCO California Municipal Income Fund (PCQ) declares $0.01/share special dividend.Payable Dec. 21; for shareholders of record Dec. 17; ex-div Dec. 16.See PCQ Dividend Scorecard, Yield Chart, & Dividend Growth. For further details see: PIMCO California Municipal Income Fund declares...

NEW YORK, Dec. 07, 2020 (GLOBE NEWSWIRE) -- The Board of Trustees/Directors of the PIMCO closed-end funds (each, a “Fund” and, collectively, the “Funds”) has declared a special year-end distribution for certain Funds’ common shares as summarized below. The...

NEW YORK, Dec. 07, 2020 (GLOBE NEWSWIRE) -- The Board of Trustees/Directors of the PIMCO closed-end funds (each, a “Fund” and, collectively, the “Funds”) has declared a special year-end distribution for certain Funds’ common shares as summarized below. The...

NEW YORK, Dec. 04, 2020 (GLOBE NEWSWIRE) -- PIMCO California Municipal Income Fund (NYSE: PCQ), PIMCO California Municipal Income Fund II (NYSE: PCK), PIMCO California Municipal Income Fund III (NYSE: PZC), PIMCO Municipal Income Fund (NYSE: PMF), PIMCO Municipal Income Fund II (NYSE: PML),...

23 out of 23 CEF sectors positive on price and 23 out of 23 sectors positive on NAV last week as election volatility subsides. NHF tender offer begins, with an expiration date of December 10, 2020. We discuss RIV's rights offering results in a separate report. For further de...

Coverage rebounded in September as the dollar rallied off the interim lows. We take a hard look at what the dollar is doing so far in October to forecast ratios. The PIMCO muni funds look fundamentally the healthiest they have been for many years now. The average coverage ratio is 106...