PIMCO High Income Fund (NYSE:PHK) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• The PIMCO High Income Fund (NYSE:PHK) share price surpassed its two hundred day moving average of $4.81, reaching a high of $4.87 during trading.
• A monthly dividend of $0.048 has been declared, with a yield of 11.85%, scheduled for payment on August 1st.
• Institutional investment interest has increased, with notable stakes purchased by firms such as PNC Financial Services and Wealth Enhancement Advisory Services.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.81 and traded as high as $4.87. PIMCO High Income Fund shares last traded at $4.86, with a volume of 454,420 shares changing hands.

PIMCO High Income Fund Trading Up 0.2%

The company has a fifty day moving average price of $4.80 and a 200 day moving average price of $4.81.

PIMCO High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, July 11th were issued a dividend of $0.048 per share. The ex-dividend date was Friday, July 11th. This represents a c) annualized dividend and a dividend yield of 11.8%.

Institutional Investors Weigh In On PIMCO High Income Fund

Several institutional investors have recently bought and sold shares of PHK. Envestnet Asset Management Inc. increased its position in shares of PIMCO High Income Fund by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 887,672 shares of the investment management company's stock valued at $4,261,000 after acquiring an additional 9,940 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in PIMCO High Income Fund by 11.3% in the 2nd quarter. 180 Wealth Advisors LLC now owns 22,175 shares of the investment management company's stock valued at $106,000 after purchasing an additional 2,250 shares during the period. Brookstone Capital Management grew its stake in PIMCO High Income Fund by 98.8% in the 2nd quarter. Brookstone Capital Management now owns 21,954 shares of the investment management company's stock valued at $105,000 after purchasing an additional 10,910 shares during the period. Atria Wealth Solutions Inc. grew its stake in PIMCO High Income Fund by 5.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 86,126 shares of the investment management company's stock valued at $418,000 after purchasing an additional 4,631 shares during the period. Finally, Integrated Capital Management Inc. grew its stake in PIMCO High Income Fund by 6.3% in the 2nd quarter. Integrated Capital Management Inc. now owns 86,555 shares of the investment management company's stock valued at $415,000 after purchasing an additional 5,149 shares during the period. Institutional investors own 11.75% of the company's stock.

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.