PIMCO High Income Fund (NYSE:PHK) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• The shares of PIMCO High Income Fund (NYSE:PHK) crossed above its 200-day moving average of $4.82, trading as high as $4.91 recently.
• The fund announced a monthly dividend of $0.048 per share, set to be paid on November 3rd, with a yield of 11.8%.
• Several hedge funds have increased their stakes in PIMCO High Income Fund, with a total of 11.75% of the stock owned by institutional investors.

Shares of PIMCO High Income Fund (NYSE:PHK - ) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.82 and traded as high as $4.91. PIMCO High Income Fund shares last traded at $4.90, with a volume of 539,171 shares.

PIMCO High Income Fund Price Performance

The business's 50-day moving average is $4.93 and its 200 day moving average is $4.82.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Tuesday, October 14th will be issued a dividend of $0.048 per share. The ex-dividend date is Tuesday, October 14th. This represents a c) annualized dividend and a yield of 11.8%.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of large investors have recently bought and sold shares of the stock. 180 Wealth Advisors LLC increased its stake in PIMCO High Income Fund by 11.3% in the 2nd quarter. 180 Wealth Advisors LLC now owns 22,175 shares of the investment management company's stock worth $106,000 after purchasing an additional 2,250 shares during the period. Sheaff Brock Investment Advisors LLC increased 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 worth $158,000 after buying an additional 2,500 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of PIMCO High Income Fund by 3.0% in the first quarter. Kingsview Wealth Management LLC now owns 104,396 shares of the investment management company's stock worth $510,000 after buying an additional 2,998 shares during the period. Moloney Securities Asset Management LLC increased its stake in shares of PIMCO High Income Fund by 19.1% in the first quarter. Moloney Securities Asset Management LLC now owns 23,335 shares of the investment management company's stock worth $114,000 after buying an additional 3,736 shares during the period. Finally, Atria Wealth Solutions Inc. increased its position in shares of PIMCO High Income Fund by 5.7% in the second quarter. Atria Wealth Solutions Inc. now owns 86,126 shares of the investment management company's stock valued at $418,000 after acquiring an additional 4,631 shares during the period. 11.75% of the stock is owned by hedge funds and other institutional investors.

PIMCO High Income Fund Company Profile

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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