PIMCO High Income Fund (NYSE:PHK) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• PIMCO High Income Fund's shares have recently crossed above their 200-day moving average, trading at $4.91 after reaching a high of $4.92 during trading.
• The fund announced a monthly dividend of $0.048 per share, translating to an annualized yield of 11.7%, with the payment scheduled for October 1st.
• Institutional investors have increased their stakes in PIMCO High Income Fund, including a 155.8% increase by Readystate Asset Management LP during the first quarter.

Shares of PIMCO High Income Fund (NYSE:PHK - ) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.81 and traded as high as $4.92. PIMCO High Income Fund shares last traded at $4.91, with a volume of 579,108 shares traded.

PIMCO High Income Fund Price Performance

The stock has a 50-day moving average price of $4.91 and a two-hundred day moving average price of $4.81.

PIMCO High Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $0.048 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date is Friday, September 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in shares of PIMCO High Income Fund in the 1st quarter valued at approximately $88,000. Sheaff Brock Investment Advisors LLC raised its stake in PIMCO High Income Fund by 8.4% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 32,236 shares of the investment management company's stock valued at $158,000 after buying an additional 2,500 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in PIMCO High Income Fund by 12.7% during 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 buying an additional 98,600 shares during the last quarter. Readystate Asset Management LP raised its stake in PIMCO High Income Fund by 155.8% during the first quarter. Readystate Asset Management LP now owns 140,693 shares of the investment management company's stock valued at $688,000 after buying an additional 85,696 shares during the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in PIMCO High Income Fund by 3.0% during the first quarter. Kingsview Wealth Management LLC now owns 104,396 shares of the investment management company's stock valued at $510,000 after buying an additional 2,998 shares during the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.