PCM Fund (NYSE:PCM) Shares Cross Below 200-Day Moving Average - Here's Why

PCM Fund Inc. (NYSE:PCM - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.92 and traded as low as $6.23. PCM Fund shares last traded at $6.26, with a volume of 25,008 shares trading hands.

PCM Fund Stock Down 0.4%

The stock has a 50 day moving average price of $6.27 and a two-hundred day moving average price of $6.92.

PCM Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 12th will be paid a $0.0642 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 12.32%.

Institutional Investors Weigh In On PCM Fund

A number of institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new stake in shares of PCM Fund in the first quarter valued at $1,565,000. Financial Advocates Investment Management grew its stake in PCM Fund by 10.8% during the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company's stock worth $1,662,000 after purchasing an additional 20,950 shares in the last quarter. Arlington Capital Management Inc. acquired a new position in PCM Fund during the 1st quarter worth $651,000. Ieq Capital LLC acquired a new position in PCM Fund during the 1st quarter worth $591,000. Finally, Sovran Advisors LLC grew 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 worth $514,000 after purchasing an additional 27,128 shares in the last quarter. 10.26% of the stock is owned by institutional investors and hedge funds.

PCM Fund Company Profile

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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