PIMCO High Income Fund (NYSE:PHK) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• PIMCO High Income Fund (NYSE:PHK) shares recently crossed above their 200-day moving average of $4.81, with a trading high of $4.96.
• The fund declared a monthly dividend of $0.048 per share, yielding 11.6%, with the payment made on September 2nd.
• Several institutional investors are increasing their positions in PIMCO High Income Fund, with Janney Montgomery Scott LLC boosting its stake by 60.6% in the first quarter.

PIMCO High Income Fund (NYSE:PHK - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.81 and traded as high as $4.96. PIMCO High Income Fund shares last traded at $4.96, with a volume of 853,271 shares.

PIMCO High Income Fund Stock Up 0.2%

The business's 50 day moving average is $4.87 and its 200-day moving average is $4.81.

PIMCO High Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $0.048 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 Friday, September 12th.

Hedge Funds Weigh In On PIMCO High Income Fund

Several institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of PIMCO High Income Fund in the 2nd quarter worth about $48,000. PNC Financial Services Group Inc. increased its stake in shares of PIMCO High Income Fund by 546.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,920 shares of the investment management company's stock valued at $63,000 after acquiring an additional 10,920 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of PIMCO High Income Fund during the 2nd quarter valued at about $72,000. Nomura Holdings Inc. acquired a new position in shares of PIMCO High Income Fund during the 2nd quarter valued at about $72,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of PIMCO High Income Fund during the 1st quarter valued at about $85,000. 11.75% of the stock is owned by institutional investors and hedge funds.

About PIMCO High Income Fund

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.