PIMCO High Income Fund (NYSE:PHK) Stock Crosses Above 200 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 crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

PIMCO High Income Fund Stock Up 0.2%

The firm has a fifty day simple moving average of $4.87 and a 200-day simple moving average of $4.81.

PIMCO High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.048 per share. 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.

Institutional Trading of PIMCO High Income Fund

A number of large investors have recently bought and sold shares of PHK. Osaic Holdings Inc. boosted its stake in PIMCO High Income Fund by 18.9% during the second quarter. Osaic Holdings Inc. now owns 444,399 shares of the investment management company's stock valued at $2,133,000 after buying an additional 70,649 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of PIMCO High Income Fund in the 2nd quarter worth approximately $72,000. Nomura Holdings Inc. bought a new stake in shares of PIMCO High Income Fund in the 2nd quarter worth approximately $72,000. Orion Porfolio Solutions LLC raised its stake in PIMCO High Income Fund by 23.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 430,521 shares of the investment management company's stock valued at $2,067,000 after buying an additional 80,433 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of PIMCO High Income Fund by 3.5% in the 2nd quarter. Bank of America Corp DE now owns 960,259 shares of the investment management company's stock worth $4,609,000 after purchasing an additional 32,540 shares in the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

PIMCO High Income Fund Company Profile

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.