PIMCO High Income Fund (NYSE:PHK) Sees Significant Growth in Short Interest

Key Points

• Short interest rose 17.6% — short positions increased to 310,267 shares as of April 15, producing a short-interest ratio of 0.4 days and representing about 0.2% of shares outstanding.
• High monthly dividend declared — PHK announced a $0.048 monthly dividend (ex-dividend April 13), implying an annualized yield of roughly 12.3%.
• Institutional buying modestly increased — several advisory firms raised their stakes in recent quarters, and hedge funds/institutions now own about 11.75% of the fund.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 310,267 shares, a growth of 17.6% from the March 31st total of 263,892 shares. Based on an average daily trading volume, of 754,760 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Trading of PIMCO High Income Fund

Several large investors have recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC grew its stake in PIMCO High Income Fund by 10.5% during the 3rd quarter. Alpha Cubed Investments LLC now owns 22,194 shares of the investment management company's stock valued at $111,000 after purchasing an additional 2,115 shares during the last quarter. TrueMark Investments LLC lifted its position in shares of PIMCO High Income Fund by 3.7% in the fourth quarter. TrueMark Investments LLC now owns 79,784 shares of the investment management company's stock valued at $388,000 after acquiring an additional 2,862 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of PIMCO High Income Fund by 5.6% in the third quarter. J.W. Cole Advisors Inc. now owns 56,430 shares of the investment management company's stock valued at $282,000 after acquiring an additional 3,000 shares in the last quarter. Integrity Advisory Solutions LLC lifted its position in shares of PIMCO High Income Fund by 28.2% in the fourth quarter. Integrity Advisory Solutions LLC now owns 16,832 shares of the investment management company's stock valued at $82,000 after acquiring an additional 3,707 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of PIMCO High Income Fund by 19.5% in the fourth quarter. Moors & Cabot Inc. now owns 24,500 shares of the investment management company's stock valued at $119,000 after acquiring an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company's stock.

PIMCO High Income Fund Price Performance

Shares of PHK opened at $4.67 on Thursday. The company's fifty day moving average price is $4.71 and its 200-day moving average price is $4.82. PIMCO High Income Fund has a 1-year low of $4.41 and a 1-year high of $5.04.

PIMCO High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Monday, April 13th will be paid a dividend of $0.048 per share. This represents a c) annualized dividend and a yield of 12.3%. The ex-dividend date is Monday, April 13th.

About PIMCO High Income Fund

The PIMCO High Income Fund NYSE: PHK is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK's investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.

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