PIMCO High Income Fund (NYSE:PHK) Stock Short Interest Report for October

Key Points

• Short interest surged 281% in October to 324,145 shares, representing approximately 0.2% of PHK’s outstanding shares. The days-to-cover ratio remained low at 0.2 days.
• PHK shares rose 0.4% to $4.08, while trading below both their 50-day ($4.27) and 200-day ($4.60) moving averages. The fund’s one-year trading range is $4.01 to $5.00.
• The fund declared a monthly dividend of $0.048 per share, equivalent to an annualized $0.58 payout and a 14.1% yield; a director also purchased 60,204 shares at an average price of $4.14.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 324,145 shares, an increase of 281.0% from the September 30th total of 85,073 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 1,553,089 shares, the days-to-cover ratio is currently 0.2 days.

PIMCO High Income Fund Stock Up 0.4%

PHK traded up $0.01 on Wednesday, hitting $4.08. 729,340 shares of the company's stock traded hands, compared to its average volume of 900,002. PIMCO High Income Fund has a one year low of $4.01 and a one year high of $5.00. The company's 50 day simple moving average is $4.27 and its 200-day simple moving average is $4.60.

PIMCO High Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be given a dividend of $0.0480 per share. The ex-dividend date is Tuesday, October 13th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 14.1%.

Insiders Place Their Bets

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

Institutional Trading of PIMCO High Income Fund

Large investors have recently added to or reduced their stakes in the company. RFG Advisory LLC purchased a new position in shares of PIMCO High Income Fund in the 2nd quarter worth approximately $1,821,000. Shaker Financial Services LLC boosted its stake in shares of PIMCO High Income Fund by 158.3% during the 3rd quarter. Shaker Financial Services LLC now owns 516,772 shares of the investment management company's stock worth $2,119,000 after purchasing an additional 316,668 shares during the period. Livelsberger Financial Advisory purchased a new stake in PIMCO High Income Fund in the 3rd quarter worth about $627,000. Western Wealth Management LLC bought a new stake in PIMCO High Income Fund in the first quarter worth about $501,000. Finally, Park Avenue Securities LLC lifted its stake in PIMCO High Income Fund by 19.6% in the third quarter. Park Avenue Securities LLC now owns 424,424 shares of the investment management company's stock worth $1,740,000 after purchasing an additional 69,554 shares during the last quarter. Institutional investors own 11.75% of the company's stock.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund NYSE: PHK is a closed-end investment fund managed 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.

PHK invests primarily in income-producing securities, including high-yield corporate bonds and other debt instruments. Its portfolio may include securities issued by companies and governments in the United States and other countries, giving the fund exposure to a range of credit markets and geographic regions.

PIMCO, a global investment management firm, oversees the fund's portfolio management and investment strategy.

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