PIMCO High Income Fund (NYSE:PHK) Short Interest Up 75.0% in September

Key Points

• Short interest in PIMCO High Income Fund (NYSE:PHK) increased by 75.0% in September, rising from 309,600 shares to 541,900 shares.
• The fund has announced a monthly dividend of $0.048 per share, with a yield of 11.6%, payable on November 3rd.
• Institutional investors and hedge funds currently own 11.75% of PIMCO High Income Fund's stock, indicating interest from larger investment entities.

PIMCO High Income Fund (NYSE:PHK - ) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 541,900 shares, a growth of 75.0% from the August 31st total of 309,600 shares. Based on an average daily trading volume, of 573,700 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 573,700 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On PIMCO High Income Fund

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in PIMCO High Income Fund in the 2nd quarter worth about $48,000. PNC Financial Services Group Inc. boosted its stake in shares of PIMCO High Income Fund by 546.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,920 shares of the investment management company's stock valued at $63,000 after buying an additional 10,920 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of PIMCO High Income Fund during the 2nd quarter worth about $72,000. Nomura Holdings Inc. acquired a new stake in shares of PIMCO High Income Fund during the 2nd quarter valued at about $72,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of PIMCO High Income Fund in the 1st quarter valued at approximately $85,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

PIMCO High Income Fund Price Performance

Shares of NYSE:PHK traded down $0.01 during trading on Monday, reaching $4.98. 585,886 shares of the company's stock traded hands, compared to its average volume of 681,158. PIMCO High Income Fund has a 12 month low of $4.18 and a 12 month high of $5.18. The company has a 50 day moving average of $4.92 and a 200-day moving average of $4.81.

PIMCO High Income Fund Announces Dividend

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

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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