PIMCO High Income Fund (NYSE:PHK - Get Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 144,300 shares, a decrease of 37.3% from the April 30th total of 230,000 shares. Based on an average daily volume of 745,600 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.
Institutional Investors Weigh In On PIMCO High Income Fund
Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC grew its stake in PIMCO High Income Fund by 54.3% during the fourth quarter. LPL Financial LLC now owns 1,624,495 shares of the investment management company's stock worth $7,895,000 after purchasing an additional 571,384 shares during the period. Guggenheim Capital LLC lifted its holdings in PIMCO High Income Fund by 84.1% during the fourth quarter. Guggenheim Capital LLC now owns 815,826 shares of the investment management company's stock worth $3,965,000 after acquiring an additional 372,623 shares during the period. Noble Wealth Management PBC bought a new stake in PIMCO High Income Fund during the fourth quarter worth $1,554,000. Apollon Wealth Management LLC lifted its holdings in PIMCO High Income Fund by 40.5% during the fourth quarter. Apollon Wealth Management LLC now owns 625,563 shares of the investment management company's stock worth $3,040,000 after acquiring an additional 180,297 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in PIMCO High Income Fund during the fourth quarter worth $854,000. Institutional investors and hedge funds own 11.75% of the company's stock.
PIMCO High Income Fund Stock Performance
Shares of PHK stock remained flat at $4.79 on Wednesday. The stock had a trading volume of 542,070 shares, compared to its average volume of 634,519. The company's fifty day moving average price is $4.71 and its 200-day moving average price is $4.85. PIMCO High Income Fund has a 12 month low of $4.18 and a 12 month high of $5.18.
PIMCO High Income Fund Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th will be paid a $0.048 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.58 annualized dividend and a dividend yield of 12.03%.
PIMCO High Income Fund Company Profile
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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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