Wolverine Asset Management LLC Takes $67,000 Position in PIMCO Municipal Income Fund III (NYSE:PMX)

Wolverine Asset Management LLC acquired a new stake in shares of PIMCO Municipal Income Fund III (NYSE:PMX) in the fourth quarter, Holdings Channel.com reports. The firm acquired 9,169 shares of the investment management company’s stock, valued at approximately $67,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PMX. Fortitude Family Office LLC bought a new stake in PIMCO Municipal Income Fund III in the third quarter valued at about $156,000. Palumbo Wealth Management LLC bought a new stake in PIMCO Municipal Income Fund III in the third quarter valued at about $484,000. Advisors Asset Management Inc. increased its stake in PIMCO Municipal Income Fund III by 16.2% in the third quarter. Advisors Asset Management Inc. now owns 641,135 shares of the investment management company’s stock valued at $5,296,000 after acquiring an additional 89,512 shares during the period. Concorde Asset Management LLC bought a new stake in PIMCO Municipal Income Fund III in the third quarter valued at about $91,000. Finally, Jane Street Group LLC bought a new stake in PIMCO Municipal Income Fund III in the third quarter valued at about $361,000.

PIMCO Municipal Income Fund III Price Performance

NYSE PMX opened at $7.43 on Tuesday. The company’s 50-day simple moving average is $7.34 and its 200 day simple moving average is $7.76. PIMCO Municipal Income Fund III has a twelve month low of $7.09 and a twelve month high of $8.52.

PIMCO Municipal Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Thursday, February 13th will be paid a $0.033 dividend. The ex-dividend date is Thursday, February 13th. This represents a $0.40 dividend on an annualized basis and a yield of 5.33%.

PIMCO Municipal Income Fund III 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.