PIMCO High Income Fund (NYSE:PHK) Shares Shorted: Short Interest Down 91.6% in September

Key Points

• Short interest plunged 91.6% in September to 85,073 shares, representing approximately 0.0% of PHK’s outstanding shares.
• Director David C. Flattum purchased 60,204 shares at $4.14 each, a transaction valued at approximately $249,245.
• PHK traded at $4.17 and announced a monthly dividend of $0.048 per share, equivalent to an annualized yield of 13.8%.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 85,073 shares, a drop of 91.6% from the September 15th total of 1,017,455 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 1,825,832 shares, the short-interest ratio is currently 0.0 days.

Insider Activity

In related news, Director David C. Flattum bought 60,204 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The shares were acquired at an average price of $4.14 per share, with a total value of $249,244.56. Following the completion of the transaction, the director owned 60,204 shares of the company's stock, valued at $249,244.56. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On PIMCO High Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHK. Integrated Capital Management Inc. increased its stake in PIMCO High Income Fund by 26.1% during the third quarter. Integrated Capital Management Inc. now owns 102,534 shares of the investment management company's stock valued at $420,000 after acquiring an additional 21,234 shares during the period. Elm3 Financial Group LLC grew its holdings in shares of PIMCO High Income Fund by 3.1% during the 3rd quarter. Elm3 Financial Group LLC now owns 272,684 shares of the investment management company's stock worth $1,118,000 after purchasing an additional 8,109 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of PIMCO High Income Fund during the 2nd quarter worth approximately $128,000. RFG Advisory LLC bought a new stake in shares of PIMCO High Income Fund during the second quarter valued at approximately $1,821,000. Finally, Baird Financial Group Inc. increased its position in shares of PIMCO High Income Fund by 3.5% during the second quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company's stock valued at $832,000 after purchasing an additional 6,021 shares during the period. 11.75% of the stock is currently owned by institutional investors.

PIMCO High Income Fund Price Performance

NYSE:PHK traded down $0.03 during trading hours on Friday, hitting $4.17. 1,714,362 shares of the company traded hands, compared to its average volume of 1,876,230. PIMCO High Income Fund has a twelve month low of $4.04 and a twelve month high of $5.00. The firm has a 50-day moving average of $4.42 and a 200 day moving average of $4.54.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a $0.0480 dividend. This represents a $0.58 annualized dividend and a dividend yield of 13.8%. The ex-dividend date is Tuesday, October 13th.

About PIMCO High Income Fund

PIMCO High Income Fund NYSE: PHK is a closed-end fund managed by Pacific Investment Management Company LLC (PIMCO), a global investment management firm. The fund's primary objective is to seek high current income for its shareholders, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of fixed-income securities, including corporate bonds, loans, mortgage-related instruments, government and sovereign debt, and other income-producing credit investments.

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