Summit Trail Advisors LLC Invests $127,000 in PIMCO Municipal Income Fund III (NYSE:PMX)

Summit Trail Advisors LLC acquired a new position in shares of PIMCO Municipal Income Fund III (NYSE:PMX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,162 shares of the investment management company’s stock, valued at approximately $127,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PMX. Simon Quick Advisors LLC acquired a new position in shares of PIMCO Municipal Income Fund III during the fourth quarter valued at about $134,000. Bank of New York Mellon Corp increased its stake in PIMCO Municipal Income Fund III by 2.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 88,456 shares of the investment management company’s stock valued at $572,000 after purchasing an additional 2,047 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of PIMCO Municipal Income Fund III in the fourth quarter worth $27,000. Advisors Asset Management Inc. lifted its stake in shares of PIMCO Municipal Income Fund III by 47.6% during the third quarter. Advisors Asset Management Inc. now owns 183,167 shares of the investment management company’s stock worth $1,185,000 after buying an additional 59,095 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of PIMCO Municipal Income Fund III during the fourth quarter worth $388,000.

PIMCO Municipal Income Fund III Price Performance

Shares of PMX opened at $7.53 on Friday. The company’s fifty day moving average price is $7.48 and its 200-day moving average price is $7.32. PIMCO Municipal Income Fund III has a 1-year low of $6.09 and a 1-year high of $8.13.

PIMCO Municipal Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.033 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.40 annualized dividend and a yield of 5.26%.

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.