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

Key Points

• PIMCO High Income Fund shares have crossed above their 200-day moving average, indicating potential upward momentum with recent trading at $4.98.
• The fund announced a monthly dividend of $0.048, payable on November 3rd, representing an annualized yield of 11.6%.
• Institutional investors have shown increasing interest, with notable stake increases and acquisitions during the second quarter, indicating confidence in the fund.

Shares of PIMCO High Income Fund (NYSE:PHK - ) 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 $4.99. PIMCO High Income Fund shares last traded at $4.98, with a volume of 638,162 shares.

PIMCO High Income Fund Stock Up 0.1%

The company's fifty day moving average is $4.93 and its two-hundred day moving average is $4.81.

PIMCO High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Tuesday, October 14th will be issued a $0.048 dividend. This represents a c) annualized dividend and a yield of 11.6%. The ex-dividend date is Tuesday, October 14th.

Institutional Investors Weigh In On PIMCO High Income Fund

Several large investors have recently bought and sold shares of PHK. Park Avenue Securities LLC bought a new stake in PIMCO High Income Fund in the second quarter valued at approximately $1,798,000. Future Financial Wealth Managment LLC increased its holdings in PIMCO High Income Fund by 1,231.0% during the 2nd quarter. Future Financial Wealth Managment LLC now owns 133,102 shares of the investment management company's stock worth $639,000 after purchasing an additional 123,102 shares in the last quarter. Presper Financial Architects LLC bought a new position in PIMCO High Income Fund in the second quarter valued at $539,000. Envestnet Asset Management Inc. grew its position in PIMCO High Income Fund by 12.7% in the first quarter. Envestnet Asset Management Inc. now owns 877,732 shares of the investment management company's stock valued at $4,292,000 after purchasing an additional 98,600 shares in the last quarter. Finally, Readystate Asset Management LP grew its position in PIMCO High Income Fund by 155.8% in the first quarter. Readystate Asset Management LP now owns 140,693 shares of the investment management company's stock valued at $688,000 after purchasing an additional 85,696 shares in the last quarter. 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.

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