Free Trial

PIMCO High Income Fund (NYSE:PHK) Stock Passes Above 200 Day Moving Average - Should You Sell?

PIMCO High Income Fund logo with Finance background

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.
  • MarketBeat previews top five stocks to own in October.

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

PIMCO High Income Fund Price Performance

The company has a fifty day moving average price of $4.90 and a 200-day moving average price of $4.81.

PIMCO High Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $0.048 dividend. This represents a c) annualized dividend and a dividend yield of 11.7%. The ex-dividend date of this dividend is Friday, September 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in PIMCO High Income Fund in the second quarter worth about $48,000. PNC Financial Services Group Inc. grew its position in PIMCO High Income Fund by 546.0% in the first quarter. PNC Financial Services Group Inc. now owns 12,920 shares of the investment management company's stock worth $63,000 after acquiring an additional 10,920 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in PIMCO High Income Fund in the second quarter worth about $72,000. Nomura Holdings Inc. purchased a new position in PIMCO High Income Fund in the second quarter worth about $72,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in PIMCO High Income Fund in the first quarter worth about $85,000. Hedge funds and other institutional investors own 11.75% of the company's stock.

PIMCO High Income Fund Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in PIMCO High Income Fund Right Now?

Before you consider PIMCO High Income Fund, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PIMCO High Income Fund wasn't on the list.

While PIMCO High Income Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Ride The A.I. Megaboom Cover


We are about to experience the greatest A.I. boom in stock market history...

Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.

That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.

  1. The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
  2. The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
  3. Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.

Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.

And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...

Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.

Get This Free Report
Like this article? Share it with a colleague.