PIMCO High Income Fund (NYSE:PHK) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• The PIMCO High Income Fund's stock price recently exceeded its 200-day moving average of $4.81, trading at $4.88 with a volume of 419,290 shares.
• A monthly dividend of $0.048 was announced, to be paid on September 2nd, which represents an annualized yield of 11.8%.
• Institutional investors have recently made significant changes to their positions in the fund, with Hedge Funds owning 11.75% of the company's stock.

PIMCO High Income Fund (NYSE:PHK - )'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.81 and traded as high as $4.88. PIMCO High Income Fund shares last traded at $4.88, with a volume of 419,290 shares changing hands.

PIMCO High Income Fund Price Performance

The stock has a 50-day moving average price of $4.82 and a 200 day moving average price of $4.81.

PIMCO High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 11th will be given a $0.048 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a c) dividend on an annualized basis and a dividend yield of 11.8%.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in PIMCO High Income Fund during the second quarter valued at about $48,000. CreativeOne Wealth LLC purchased a new stake in PIMCO High Income Fund during the fourth quarter valued at about $53,000. PNC Financial Services Group Inc. grew 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 valued at $63,000 after acquiring an additional 10,920 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in PIMCO High Income Fund during the first quarter valued at about $85,000. Finally, Western Wealth Management LLC purchased a new stake in PIMCO High Income Fund during the fourth quarter valued at about $88,000. Hedge funds and other institutional investors 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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