PIMCO High Income Fund (NYSE:PHK) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• The PIMCO High Income Fund's share price has crossed above its 200-day moving average, with the last traded price at $4.96.
• The fund declared a monthly dividend of $0.048 per share, yielding 11.6% on an annualized basis, with an ex-dividend date of August 11th.
• Significant institutional activity was noted, including large investments from firms like PNC Financial Services Group, which increased its stake by 546% during the first quarter.

PIMCO High Income Fund (NYSE:PHK - )'s stock price crossed above its 200-day moving average during trading on Thursday . 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 479,113 shares traded.

PIMCO High Income Fund Stock Performance

The business has a 50 day simple moving average of $4.81 and a 200 day simple moving average of $4.81.

PIMCO High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a dividend of $0.048 per share. This represents a c) dividend on an annualized basis and a yield of 11.6%. The ex-dividend date is Monday, August 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PHK. CreativeOne Wealth LLC acquired a new position in PIMCO High Income Fund during the fourth quarter worth $53,000. PNC Financial Services Group Inc. lifted its stake in PIMCO High Income Fund by 546.0% during the first quarter. PNC Financial Services Group Inc. now owns 12,920 shares of the investment management company's stock worth $63,000 after purchasing an additional 10,920 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in PIMCO High Income Fund during the first quarter worth $85,000. Western Wealth Management LLC acquired a new stake in shares of PIMCO High Income Fund in the fourth quarter valued at $88,000. Finally, Private Advisor Group LLC acquired a new stake in shares of PIMCO High Income Fund in the first quarter valued at $88,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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