PIMCO High Income Fund (NYSE:PHK) Short Interest Update

Key Points

• Short interest fell 52.6% to 822,828 shares as of August 31, representing 0.4% of PHK’s shares and a days-to-cover ratio of 1.1.
• Institutional investors increased their positions, with LPL Financial, Osaic Holdings, UBS, Invesco, and Bank of America among the notable holders. Institutions collectively own 11.75% of the fund.
• PHK opened at $4.38, near its 52-week low of $4.34, while the fund declared a $0.048 monthly dividend, equivalent to a reported 13.1% annualized yield.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 822,828 shares, a decrease of 52.6% from the August 15th total of 1,737,699 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 775,760 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of hedge funds have recently made changes to their positions in the business. LPL Financial LLC raised its stake in PIMCO High Income Fund by 2.5% during the 4th quarter. LPL Financial LLC now owns 1,937,118 shares of the investment management company's stock valued at $9,414,000 after purchasing an additional 47,241 shares during the period. Osaic Holdings Inc. boosted its stake in PIMCO High Income Fund by 32.8% in the 4th quarter. Osaic Holdings Inc. now owns 1,661,772 shares of the investment management company's stock worth $8,076,000 after purchasing an additional 410,137 shares during the period. UBS Group AG grew its holdings in PIMCO High Income Fund by 11.2% during the 4th quarter. UBS Group AG now owns 1,289,048 shares of the investment management company's stock valued at $6,265,000 after buying an additional 130,086 shares in the last quarter. Invesco Ltd. grew its holdings in PIMCO High Income Fund by 4.3% during the 3rd quarter. Invesco Ltd. now owns 1,279,467 shares of the investment management company's stock valued at $6,385,000 after buying an additional 53,263 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of PIMCO High Income Fund by 4.0% during the first quarter. Bank of America Corp DE now owns 1,247,814 shares of the investment management company's stock valued at $5,777,000 after buying an additional 48,233 shares during the last quarter. Institutional investors own 11.75% of the company's stock.

PIMCO High Income Fund Price Performance

Shares of NYSE PHK opened at $4.38 on Monday. PIMCO High Income Fund has a 1 year low of $4.34 and a 1 year high of $5.00. The firm has a fifty day moving average price of $4.61 and a 200-day moving average price of $4.62.

PIMCO High Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.048 dividend. This represents a c) dividend on an annualized basis and a yield of 13.1%. The ex-dividend date is Friday, September 11th.

About PIMCO High Income Fund

PIMCO High Income Fund NYSE: PHK is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of income-producing debt securities. These investments may include below-investment-grade corporate bonds, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments issued by companies and governments in the United States and international markets.

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