Pcm Fund (NYSE:PCM) Short Interest Up 49.7% in July

Key Points

• Short interest rose 49.7% to 47,824 shares as of July 31, representing approximately 0.4% of PCM Fund’s outstanding shares and 1.5 days of average trading volume.
• Several institutional investors increased or initiated positions, with institutional ownership reaching 10.26% of the company’s stock.
• PCM Fund shares traded at $5.54, near the lower end of their 52-week range, while the company declared a monthly dividend of $0.0642 per share, representing an annualized yield of approximately 13.9%.

Pcm Fund (NYSE:PCM - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 47,824 shares, an increase of 49.7% from the July 15th total of 31,936 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 32,870 shares, the short-interest ratio is presently 1.5 days.

Institutional Trading of Pcm Fund

Several hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new position in Pcm Fund in the 2nd quarter worth approximately $322,000. Concord Investment Counsel Inc. bought a new stake in shares of Pcm Fund in the second quarter valued at approximately $358,000. Rivernorth Capital Management LLC grew its stake in shares of Pcm Fund by 59.3% in the first quarter. Rivernorth Capital Management LLC now owns 479,504 shares of the investment management company's stock worth $2,738,000 after acquiring an additional 178,434 shares during the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of Pcm Fund in the first quarter worth $328,000. Finally, Guggenheim Capital LLC increased its position in Pcm Fund by 33.4% during the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company's stock worth $1,779,000 after acquiring an additional 72,482 shares during the period. Institutional investors own 10.26% of the company's stock.

Pcm Fund Stock Performance

NYSE:PCM traded up $0.06 during midday trading on Tuesday, reaching $5.54. The stock had a trading volume of 9,306 shares, compared to its average volume of 48,544. Pcm Fund has a 1-year low of $5.41 and a 1-year high of $6.76. The firm's fifty day simple moving average is $5.64 and its 200-day simple moving average is $5.76.

Pcm Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.0642 per share. This represents a c) dividend on an annualized basis and a yield of 13.9%. The ex-dividend date is Thursday, August 13th.

Pcm Fund Company Profile

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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