PCM Fund Inc. (NYSE:PCM - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 19,000 shares, an increase of 363.4% from the May 15th total of 4,100 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 50,700 shares, the days-to-cover ratio is currently 0.4 days.
Hedge Funds Weigh In On PCM Fund
A number of hedge funds have recently bought and sold shares of PCM. Landscape Capital Management L.L.C. purchased a new stake in shares of PCM Fund during the 1st quarter valued at about $1,565,000. Arlington Capital Management Inc. purchased a new stake in shares of PCM Fund during the 1st quarter valued at about $651,000. Ieq Capital LLC purchased a new stake in shares of PCM Fund during the 1st quarter valued at about $591,000. Sovran Advisors LLC increased its position in shares of PCM Fund by 47.1% during the 1st quarter. Sovran Advisors LLC now owns 84,712 shares of the investment management company's stock valued at $514,000 after purchasing an additional 27,128 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of PCM Fund during the 4th quarter valued at about $152,000. Hedge funds and other institutional investors own 10.26% of the company's stock.
PCM Fund Price Performance
NYSE:PCM traded up $0.02 during mid-day trading on Thursday, reaching $6.36. The company's stock had a trading volume of 101,127 shares, compared to its average volume of 55,465. PCM Fund has a 12-month low of $5.88 and a 12-month high of $8.39. The firm's fifty day moving average price is $6.21 and its two-hundred day moving average price is $6.73.
PCM Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th will be given a $0.0642 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 12.12%. The ex-dividend date is Thursday, June 12th.
PCM Fund Company Profile
(
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PCM Fund Inc is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.
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