Pcm Fund (NYSE:PCM) Sees Significant Growth in Short Interest

Key Points

• Short interest jumped 73.4% in March to 29,690 shares (from 17,122 on Feb. 26), equal to about 0.2% of shares short and a days-to-cover ratio of roughly 0.6.
• High-yield dividend announced: PCM declared a monthly dividend of $0.0642 (ex-dividend March 12, payable April 1), implying an annualized yield of about 13.9%.
• Shares trading near the 52-week low on elevated volume — PCM traded at $5.55 (down 0.7%) with above-average volume, a 52-week range of $5.52–$6.76, and institutional ownership around 10.3% after recent buying by several firms.

Pcm Fund (NYSE:PCM - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 29,690 shares, a growth of 73.4% from the February 26th total of 17,122 shares. Based on an average daily trading volume, of 50,889 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the shares of the company are short sold.

Pcm Fund Trading Down 0.7%

Shares of NYSE:PCM traded down $0.04 during mid-day trading on Friday, reaching $5.55. 77,886 shares of the company traded hands, compared to its average volume of 56,059. Pcm Fund has a 52 week low of $5.52 and a 52 week high of $6.76. The company's 50 day moving average price is $5.96 and its 200-day moving average price is $6.20.

Pcm Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Thursday, March 12th will be issued a $0.0642 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) annualized dividend and a yield of 13.9%.

Institutional Investors Weigh In On Pcm Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rivernorth Capital Management LLC bought a new position in shares of Pcm Fund in the fourth quarter worth about $1,849,000. Guggenheim Capital LLC raised its stake in Pcm Fund by 33.4% during the 4th quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company's stock valued at $1,779,000 after purchasing an additional 72,482 shares during the period. LPL Financial LLC lifted its holdings in Pcm Fund by 6.7% in the 4th quarter. LPL Financial LLC now owns 308,436 shares of the investment management company's stock worth $1,894,000 after purchasing an additional 19,364 shares in the last quarter. Scotia Capital Inc. bought a new position in Pcm Fund in the 3rd quarter worth approximately $92,000. Finally, Kestra Advisory Services LLC grew its holdings in Pcm Fund by 65.2% during the 4th quarter. Kestra Advisory Services LLC now owns 34,637 shares of the investment management company's stock valued at $213,000 after buying an additional 13,667 shares in the last quarter. 10.26% of the stock is owned by institutional investors.

About Pcm Fund

PCM Fund, Inc NYSE: PCM is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund's investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.

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