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

Key Points

• The PIMCO High Income Fund (NYSE:PHK) shares surpassed their 200-day moving average during trading, indicating significant price movement, last trading at $4.92.
• A monthly dividend of $0.048 will be paid on October 1st, providing a dividend yield of 11.7% for shareholders of record on September 12th.
• Recent institutional investments in PIMCO High Income Fund include a 546.0% increase in PNC Financial Services Group's stake and multiple new positions by various hedge funds totaling significant amounts.

PIMCO High Income Fund (NYSE:PHK - Get Free Report)'s share 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 $4.95. PIMCO High Income Fund shares last traded at $4.92, with a volume of 347,412 shares trading hands.

PIMCO High Income Fund Price Performance

The stock has a 50-day moving average of $4.90 and a 200 day moving average of $4.81.

PIMCO High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $0.048 per share. The ex-dividend date is Friday, September 12th. This represents a c) dividend on an annualized basis and a yield of 11.7%.

Institutional Trading of PIMCO High Income Fund

A number of institutional investors have recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC lifted its stake in shares of PIMCO High Income Fund by 8.4% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 32,236 shares of the investment management company's stock valued at $158,000 after buying an additional 2,500 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in PIMCO High Income Fund by 12.7% in the first quarter. Envestnet Asset Management Inc. now owns 877,732 shares of the investment management company's stock worth $4,292,000 after purchasing an additional 98,600 shares during the last quarter. Readystate Asset Management LP raised its holdings in PIMCO High Income Fund by 155.8% in the 1st quarter. Readystate Asset Management LP now owns 140,693 shares of the investment management company's stock worth $688,000 after purchasing an additional 85,696 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of PIMCO High Income Fund by 3.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 104,396 shares of the investment management company's stock valued at $510,000 after buying an additional 2,998 shares in the last quarter. Finally, Moloney Securities Asset Management LLC increased its holdings in shares of PIMCO High Income Fund by 19.1% during the first quarter. Moloney Securities Asset Management LLC now owns 23,335 shares of the investment management company's stock valued at $114,000 after acquiring an additional 3,736 shares in the last quarter. 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.