PIMCO High Income Fund (NYSE:PHK) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• PIMCO High Income Fund's stock price recently crossed above its 200-day moving average of $4.81, reaching a high of $5.02 during trading.
• The fund announced a monthly dividend of $0.048 per share, resulting in an annualized yield of 11.6% for shareholders.
• Institutional investors have shown increased interest, with significant stakes acquired during the second quarter, bringing total ownership by such investors to 11.75% of the company's stock.

PIMCO High Income Fund (NYSE:PHK - )'s stock price 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 $5.02. PIMCO High Income Fund shares last traded at $4.99, with a volume of 864,038 shares traded.

PIMCO High Income Fund Stock Down 0.3%

The company's 50 day moving average price is $4.88 and its 200 day moving average price is $4.81.

PIMCO High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $0.048 per share. The ex-dividend date is Friday, September 12th. This represents a c) dividend on an annualized basis and a yield of 11.6%.

Hedge Funds Weigh In On PIMCO High Income Fund

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in PIMCO High Income Fund in the 2nd quarter worth about $48,000. PNC Financial Services Group Inc. increased its position 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 during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in PIMCO High Income Fund during the second quarter worth approximately $72,000. Nomura Holdings Inc. acquired a new position in PIMCO High Income Fund during the second quarter worth approximately $72,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in PIMCO High Income Fund during the first quarter worth approximately $85,000. Institutional investors and hedge funds own 11.75% of the company's stock.

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.

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