What’s in PIMCO California Municipal Income Fund II (PCK) After Forming Bearish Multiple Bottom?

June 26, 2018 - By Rene Maslow

Investors sentiment increased to 1.38 in 2018 Q1. Its up 0.09, from 1.29 in 2017Q4. It increased, as 1 investors sold PIMCO California Municipal Income Fund II shares while 7 reduced holdings. 7 funds opened positions while 4 raised stakes. 1.98 million shares or 128.26% more from 868,231 shares in 2017Q4 were reported.
Morgan Stanley accumulated 106,532 shares or 0% of the stock. Susquehanna Intl Grp Inc Limited Liability Partnership invested in 0% or 52,279 shares. Citadel Advsr Ltd has 11,157 shares for 0% of their portfolio. Wolverine Asset Mngmt Ltd has 111,575 shares for 0.01% of their portfolio. Lpl Financial Llc has invested 0% in PIMCO California Municipal Income Fund II (NYSE:PCK). The California-based Covington Cap Mngmt has invested 0% in PIMCO California Municipal Income Fund II (NYSE:PCK). Laurion Capital Mngmt L P reported 877,742 shares. Royal National Bank Of Canada has 18,003 shares. Rmb Capital Limited holds 0% in PIMCO California Municipal Income Fund II (NYSE:PCK) or 17,461 shares. Citigroup invested in 97,037 shares or 0% of the stock. Oppenheimer Company Inc accumulated 14,964 shares. Savings Bank Of America De reported 0% stake. Stratos Wealth Partners Ltd invested 0% of its portfolio in PIMCO California Municipal Income Fund II (NYSE:PCK). Sg Americas Secs Ltd Company, New York-based fund reported 131,583 shares. Guggenheim Limited Liability has 195,288 shares.

The stock of PIMCO California Municipal Income Fund II (PCK) shows a multiple bottoms pattern with $7.62 target or 8.00 % below today’s $8.28 share price. The 9 months chart pattern indicates high risk for the $264.70M company. It was reported on Jun, 26 by Finviz.com. If the $7.62 price target is reached, the company will be worth $21.18M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.36% or $0.03 during the last trading session, reaching $8.28. About 69,141 shares traded. PIMCO California Municipal Income Fund II (NYSE:PCK) has declined 19.15% since June 26, 2017 and is downtrending. It has underperformed by 31.72% the S&P500.

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