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

Key Points

• Short interest in Pcm Fund increased by 57.8% in September, totaling 45,600 shares as of the 15th, up from 28,900 shares at the end of August.
• The fund announced a monthly dividend of $0.0642, payable on November 3rd, with an annualized yield of 11.5%.
• A notable number of institutional investors have recently adjusted their positions in Pcm Fund, with 10.26% of the stock now owned by hedge funds and other institutions.

Pcm Fund (NYSE:PCM - ) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 45,600 shares, a growth of 57.8% from the August 31st total of 28,900 shares. Based on an average trading volume of 56,200 shares, the short-interest ratio is currently 0.8 days. Based on an average trading volume of 56,200 shares, the short-interest ratio is currently 0.8 days.

Pcm Fund Price Performance

Pcm Fund stock opened at $6.69 on Monday. The stock has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $6.34. Pcm Fund has a fifty-two week low of $5.88 and a fifty-two week high of $8.39.

Pcm Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Tuesday, October 14th will be issued a $0.0642 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend is Tuesday, October 14th.

Institutional Investors Weigh In On Pcm Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sovran Advisors LLC raised its stake in 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 acquiring an additional 27,128 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Pcm Fund in the first quarter valued at about $591,000. Arlington Capital Management Inc. acquired a new position in shares of Pcm Fund during the first quarter worth about $651,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Pcm Fund during the first quarter worth about $1,565,000. 10.26% of the stock is owned by hedge funds and other 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.

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