PZC: I Still Wouldn't Choose This Fund For Muni Exposure [Seeking Alpha]
PIMCO California Municipal Income Fund III Common Shares of Beneficial Interest (PZC)
US:NYSE Investor Relations:
pimco.com/en-us/investments/closed-end-funds/california-municipal-income-fund-iii
Company Research
Source: Seeking Alpha
Follow Summary PZC has seen a modest loss since my last review, and I'm not too optimistic about its future prospects either. The fund's discount to NAV could look compelling, but it is actually narrow compared to sister funds from PIMCO. California munis have plenty of merit right now for high-income residents, but there are risks to state and local government finances if the economy sours. This idea was discussed in more depth with members of my private investing community, CEF/ETF Income Laboratory. Learn More » Klaus Vedfelt Main Thesis & Background The purpose of this article is to evaluate the PIMCO California Municipal Income Fund III ( NYSE: PZC ) as an investment option at its current market price. The fund invests primarily in California municipal bonds, and therefore "seeks to provide current income which is exempt from federal and California income tax, as well as the alternative minimum tax". It has been a while since I covered PZC, but my followers kno
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PZC
Sec Filings
- 9/4/24 - Form N-CSRS
- 8/30/24 - Form N-PX
- 8/29/24 - Form NPORT-P
- PZC's page on the SEC website