PZC News and Press, PIMCO California Municipal Income Fund III of Beneficial Interest From 12/18/21

We review CEF market valuation and performance through the second week of December and highlight recent market action. December has so far provided a respite from a more grim November. We revisit some of our core CEF themes that have been relatively resilient and can continue to p...

Interest rate volatility prompted another month of negative total returns. Below-average issuance was counterbalanced by a slowdown in demand. November could provide opportunities ahead of seasonal strength in December and January. For further details see: Muni Seasonal ...

Steadily lower yields and heightened volatility make relative value opportunities an attractive alpha generation strategy in CEFs. We review past relative value ideas and identify new ones across CEF sectors. Specifically, we highlight rotation opportunities for a number of PIMCO,...

Rising interest rates drove negative total returns. Supply and demand dynamics turned less seasonally favorable and acted as a headwind. More attractive valuations could provide near-term opportunity. For further details see: Munis Remained Tethered To Rates In September...

Interest in municipal closed-end funds (CEFs) vs. municipal bonds often stems from higher return potential - this is mostly due to the use of leverage in municipal closed-end funds. Leverage could potentially amplify both the fund's net asset value (NAV) and its distribution; however,...

Modestly negative performance in August capped a robust summer seasonal period. Issuance exceeded expectations, resulting in less of a supply/demand imbalance than is typical. We maintain a defensive posture into the historically less favorable month of September. For furthe...

Rallying interest rates drove strong muni bond performance in July. Market dynamics remained seasonally favorable, with demand for munis broadly outpacing supply. A more defensive posture may be warranted ahead of elevated risks in the fall. For further details see: Muni...

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...

PIMCO California Municipal Income Fund III (PZC) declares $0.038/share monthly dividend, in line with previous.Forward yield 4.37%Payable April 1; for shareholders of record March 11; ex-div March 10.See PZC Dividend Scorecard, Yield Chart, & Dividend Growth. For further details see: ...

NEW YORK, March 01, 2021 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund’s common shares as summarized below. ...