PIMCO High Income Fund (NYSE:PHK) Stock Passes 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.

Shares of PIMCO High Income Fund (NYSE:PHK - Get Free Report) crossed 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 trading hands.

PIMCO High Income Fund Stock Performance

The stock has a 50-day moving average price of $4.83 and a two-hundred day moving average price of $4.81.

PIMCO High Income Fund Dividend Announcement

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

Institutional Trading of PIMCO High Income Fund

A number of large investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC increased its position in shares of PIMCO High Income Fund by 3.6% during the 2nd quarter. Guggenheim Capital LLC now owns 1,323,627 shares of the investment management company's stock valued at $6,353,000 after purchasing an additional 45,793 shares during the last quarter. Bank of America Corp DE increased its position in shares of PIMCO High Income Fund by 7.1% during the 4th quarter. Bank of America Corp DE now owns 1,290,578 shares of the investment management company's stock valued at $6,272,000 after purchasing an additional 85,312 shares during the last quarter. Invesco Ltd. increased its position in shares of PIMCO High Income Fund by 2.3% during the 2nd quarter. Invesco Ltd. now owns 1,226,204 shares of the investment management company's stock valued at $5,886,000 after purchasing an additional 27,751 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of PIMCO High Income Fund by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 887,672 shares of the investment management company's stock valued at $4,261,000 after purchasing an additional 9,940 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of PIMCO High Income Fund by 2.0% during the 2nd quarter. Cetera Investment Advisers now owns 506,330 shares of the investment management company's stock valued at $2,430,000 after purchasing an additional 9,979 shares during 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.