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In a challenging economic climate, PIMCO California Municipal Income III (PZC) stock has reached a 52-week low, dipping to $6.55. According to InvestingPro data, the fund maintains a notable 5.35% dividend yield and has consistently paid dividends for 24 consecutive years. This latest price level reflects a significant downturn from the previous year, with the fund experiencing a total return of -9.77% over the past year. While InvestingPro analysis shows the stock typically trades with low price volatility (Beta: 0.62), investors are closely monitoring PZC as it navigates through the volatile municipal bond market, which has been influenced by a complex interplay of rising interest rates and fiscal policy adjustments. The fund’s performance is particularly noteworthy to those with exposure to California municipal bonds, as it may signal broader trends within the state’s debt market. With a current ratio of 2.12, InvestingPro data indicates the fund maintains strong liquidity, with assets well-positioned to meet short-term obligations.
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