Pcm Fund (NYSE:PCM) Share Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Pcm Fund's stock price fell below its 200-day moving average of $6.36, trading at $6.28.
• The company declared a monthly dividend of $0.0642 per share with a dividend yield of 12.3%, payable on September 2nd.
• Recent institutional investments include significant new positions from several firms, increasing the overall institutional ownership to 10.26%.

Pcm Fund (NYSE:PCM - )'s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.36 and traded as low as $6.28. Pcm Fund shares last traded at $6.29, with a volume of 25,331 shares trading hands.

Pcm Fund Stock Down 0.4%

The business's fifty day moving average price is $6.32 and its 200 day moving average price is $6.36.

Pcm Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be paid a dividend of $0.0642 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date is Monday, August 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PCM. Raymond James Financial Inc. acquired a new position in shares of Pcm Fund during the fourth quarter worth about $137,000. Two Sigma Securities LLC acquired a new position in shares of Pcm Fund during the fourth quarter worth about $152,000. Sovran Advisors LLC increased its stake in shares of Pcm Fund by 47.1% during the first quarter. Sovran Advisors LLC now owns 84,712 shares of the investment management company's stock worth $514,000 after acquiring an additional 27,128 shares during the period. Ieq Capital LLC acquired a new position in shares of Pcm Fund during the first quarter worth about $591,000. Finally, Arlington Capital Management Inc. acquired a new position in shares of Pcm Fund during the first quarter worth about $651,000. 10.26% of the stock is currently owned by institutional investors and hedge funds.

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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