PIMCO High Income Fund (NYSE:PHK) Short Interest Update

Key Points

• Short interest surged 174.3% to 1.80 million shares as of July 31, representing 1.0% of PHK’s shares and 1.4 days of average trading volume to cover.
• Institutional ownership stands at 11.75%, with several firms—including Bank of New York Mellon, Jane Street Group, and B. Riley Wealth Advisors—recently establishing or increasing positions.
• PHK shares opened at $4.64, near the middle of their 12-month range, while the fund declared a monthly dividend of $0.048 per share, implying a 12.4% annualized yield.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 1,800,436 shares, a growth of 174.3% from the July 15th total of 656,459 shares. Currently, 1.0% of the company's shares are sold short. Based on an average daily trading volume, of 1,309,153 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of large investors have recently bought and sold shares of the stock. Cornerstone Planning Group LLC increased its holdings in shares of PIMCO High Income Fund by 31,295.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 6,279 shares of the investment management company's stock worth $31,000 after buying an additional 6,259 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in PIMCO High Income Fund during the 2nd quarter worth approximately $48,000. Jane Street Group LLC purchased a new position in PIMCO High Income Fund in the second quarter valued at approximately $48,000. Glenview Trust Co purchased a new position in PIMCO High Income Fund in the fourth quarter valued at approximately $63,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in PIMCO High Income Fund during the second quarter valued at approximately $72,000. Hedge funds and other institutional investors own 11.75% of the company's stock.

PIMCO High Income Fund Stock Down 1.0%

NYSE PHK opened at $4.64 on Friday. PIMCO High Income Fund has a 12 month low of $4.41 and a 12 month high of $5.04. The company has a 50-day moving average of $4.63 and a 200-day moving average of $4.69.

PIMCO High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Thursday, August 13th will be given a dividend of $0.048 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 12.4%.

PIMCO High Income Fund Company Profile

The PIMCO High Income Fund NYSE: PHK is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK's investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.

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