Pcm Fund (NYSE:PCM) to Issue $0.06 Monthly Dividend

Key Points

• Pcm Fund has declared a monthly dividend of $0.0642 per share, set to be paid on October 1st to shareholders of record on September 12th, representing an annual yield of 12.2%.
• The stock recently traded down to $6.34 with a 1-year low of $5.88 and a high of $8.39, reflecting recent volatility in trading.
• Pcm Fund Inc is a closed-ended fixed-income mutual fund primarily investing in commercial mortgage-backed securities, managed by Allianz Global Investors and PIMCO.

Pcm Fund (NYSE:PCM - Get Free Report) declared a monthly dividend on Tuesday, September 2nd, Wall Street Journal reports. Shareholders of record on Friday, September 12th will be given a dividend of 0.0642 per share by the investment management company on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 12.0%. The ex-dividend date is Friday, September 12th.

Pcm Fund Trading Up 0.2%

Shares of NYSE PCM traded up $0.02 during mid-day trading on Friday, reaching $6.41. The company had a trading volume of 74,351 shares, compared to its average volume of 54,203. The business's 50-day moving average is $6.33 and its 200-day moving average is $6.33. Pcm Fund has a 52 week low of $5.88 and a 52 week high of $8.39.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Pcm Fund in the fourth quarter worth about $137,000. Sovran Advisors LLC grew its holdings in shares of Pcm Fund by 47.1% in the first quarter. Sovran Advisors LLC now owns 84,712 shares of the investment management company's stock worth $514,000 after purchasing an additional 27,128 shares during the last quarter. Ieq Capital LLC bought a new position in shares of Pcm Fund in the first quarter worth about $591,000. Arlington Capital Management Inc. bought a new position in shares of Pcm Fund in the first quarter worth about $651,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Pcm Fund in the first quarter worth about $1,565,000. 10.26% of the stock is currently owned by institutional investors.

About Pcm Fund

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.