Pimco Municipal Income Fund III said on September 1, 2023 that its board of directors declared a regular monthly dividend of $0.03 per share ($0.40 annualized). Previously, the company paid $0.03 per share.
Shareholders of record as of September 11, 2023 will receive the payment on October 2, 2023.
At the current share price of $7.31 / share, the stock's dividend yield is 5.42%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.18%, the lowest has been 4.17%, and the highest has been 7.10%. The standard deviation of yields is 0.65 (n=195).
The current dividend yield is 0.36 standard deviations above the historical average.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is -0.36%.
What is the Fund Sentiment?
There are 80 funds or institutions reporting positions in Pimco Municipal Income Fund III. This is an increase of 1 owner(s) or 1.27% in the last quarter. Average portfolio weight of all funds dedicated to PMX is 0.11%, an increase of 11.43%. Total shares owned by institutions increased in the last three months by 18.97% to 6,265K shares.
What are Other Shareholders Doing?
Rivernorth Capital Management holds 1,066K shares. In it's prior filing, the firm reported owning 531K shares, representing an increase of 50.22%. The firm increased its portfolio allocation in PMX by 100.72% over the last quarter.
Guggenheim Capital holds 730K shares. In it's prior filing, the firm reported owning 723K shares, representing an increase of 0.87%. The firm increased its portfolio allocation in PMX by 22.53% over the last quarter.
Gill Capital Partners holds 423K shares. In it's prior filing, the firm reported owning 429K shares, representing a decrease of 1.20%. The firm decreased its portfolio allocation in PMX by 9.86% over the last quarter.
Beta Wealth Group holds 253K shares. In it's prior filing, the firm reported owning 274K shares, representing a decrease of 8.00%. The firm increased its portfolio allocation in PMX by 11.51% over the last quarter.
RiverNorth Flexible Municipal Income Fund II holds 178K shares. In it's prior filing, the firm reported owning 118K shares, representing an increase of 33.63%. The firm increased its portfolio allocation in PMX by 46.63% over the last quarter.
Pimco Municipal Income Fund III Background Information
(This description is provided by the company.)
Pimco Municipal Income Fund III seeks current income exempt from federal income tax. A tax-sensitive approach to investing can provide tangible advantages to investors seeking current income, especially those in higher tax brackets. Investing primarily in a portfolio of municipal bonds, the fund seeks to provide current income exempt from federal income tax. Under normal circumstances, the fund will invest at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal income taxes (i.e., excluded from gross income for federal income tax purposes but not necessarily exempt from the federal alternative minimum tax). The fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The fund invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality (Baa or higher by Moody’s Investors Service, Inc. (“Moody’s) or BBB or better by S&P Global Ratings (“S&P”) or Fitch, Inc. (“Fitch”)), or bonds that are unrated but determined to be of comparable quality by PIMCO. The fund may invest up to 20% of its net assets in municipal bonds that are, at the time of investment, rated Ba/BB or B by Moody’s, S&P or Fitch or lower or that are unrated but judged to be of comparable quality by PIMCO. The portfolio manager also aims to preserve and enhance the value of the fund’s holdings relative to the municipal bond market, generally, using proprietary analytical models that test and evaluate the sensitivity of those holdings to changes in interest rates and yield relationships. PIMCO is qualified to respond to recent changes in the municipal bond market, with an extensive network of credit research capabilities to address concerns about creditworthiness, which is critical to municipal bond investing. Additionally, PIMCO has the market presence to provide access to the new issue and secondary markets.
Additional reading:
- Offer by Each of PIMCO Corporate & Income Opportunity Fund PIMCO Corporate & Income Strategy Fund PIMCO High Income Fund PIMCO Income Strategy Fund PIMCO Income Strategy Fund II PIMCO California Municipal Income Fund PIMCO California Municipal Income
- LETTER OF TRANSMITTAL To Tender Preferred Shares (Designated Auction-Rate Preferred Shares Series A, Series B, Series C, Series D, and/or Series E) PIMCO Municipal Income Fund III Pursuant to the Offer to Purchase Dated August 14, 2023
- NOTICE OF GUARANTEED DELIVERY To Tender Auction-Rate Preferred Shares PIMCO Corporate & Income Opportunity Fund PIMCO Corporate & Income Strategy Fund PIMCO High Income Fund PIMCO Income Strategy Fund PIMCO Income Strategy Fund II PIMCO California Mu
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