Pcm Fund (NYSE:PCM) Short Interest Update

Key Points

• Short interest in PCM Fund fell 37% to 44,292 shares as of September 15, representing 0.4% of shares outstanding and just 0.3 days to cover.
• Institutional ownership stands at 10.26%, with several firms increasing existing positions or establishing new stakes during the second quarter.
• PCM shares fell 0.6% to $4.95, near their 12-month low, while the fund declared a monthly dividend of $0.0642, equating to an annualized yield of approximately 15.6%.

Pcm Fund (NYSE:PCM - Get Free Report) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totaling 44,292 shares, a decline of 37.0% from the August 31st total of 70,259 shares. Based on an average daily trading volume, of 127,271 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the company's stock are sold short.

Institutional Investors Weigh In On Pcm Fund

Several hedge funds and other institutional investors have recently bought and sold shares of PCM. Rivernorth Capital Management LLC lifted its holdings in Pcm Fund by 6.8% in the second quarter. Rivernorth Capital Management LLC now owns 512,236 shares of the investment management company's stock worth $2,858,000 after acquiring an additional 32,732 shares during the last quarter. Concord Investment Counsel Inc. bought a new stake in shares of Pcm Fund in the 2nd quarter worth approximately $358,000. Arlington Capital Management Inc. lifted its holdings in shares of Pcm Fund by 8.0% in the 2nd quarter. Arlington Capital Management Inc. now owns 62,070 shares of the investment management company's stock worth $346,000 after purchasing an additional 4,582 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Pcm Fund during the 2nd quarter valued at approximately $322,000. Finally, Everett Harris & Co. CA acquired a new position in Pcm Fund during the 4th quarter valued at approximately $80,000. 10.26% of the stock is currently owned by hedge funds and other institutional investors.

Pcm Fund Stock Down 0.6%

Shares of Pcm Fund stock traded down $0.03 during trading hours on Thursday, hitting $4.95. 9,032 shares of the company's stock traded hands, compared to its average volume of 54,463. The stock has a 50 day simple moving average of $5.36 and a 200-day simple moving average of $5.57. Pcm Fund has a twelve month low of $4.85 and a twelve month high of $6.76.

Pcm Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a $0.0642 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.77 dividend on an annualized basis and a yield of 15.6%.

About Pcm Fund

PCM Fund, Inc NYSE: PCM is a closed-end investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund is designed to provide investors with access to professionally managed fixed-income investments rather than operating a conventional business.

The fund primarily invests in commercial mortgage-backed securities and other mortgage-related investments. Its investment strategy is focused on generating a high level of current income, with capital appreciation as a secondary objective.

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