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

Key Points

• The PIMCO High Income Fund (NYSE:PHK) stock price recently crossed above its 200-day moving average of $4.80, indicating a potential upward trend.
• A monthly dividend of $0.048 per share has been declared, yielding an annualized rate of 11.7%, set to be paid on September 2nd.
• Institutional investors have shown increased interest, with notable stake increases from several firms including 180 Wealth Advisors LLC, which raised its position by 11.3% in the last quarter.

PIMCO High Income Fund (NYSE:PHK - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.80 and traded as high as $4.94. PIMCO High Income Fund shares last traded at $4.92, with a volume of 464,481 shares traded.

PIMCO High Income Fund Price Performance

The business's fifty day simple moving average is $4.85 and its 200-day simple moving average is $4.80.

PIMCO High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be issued a $0.048 dividend. The ex-dividend date is Monday, August 11th. This represents a c) annualized dividend and a yield of 11.6%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PHK. Jane Street Group LLC bought a new position in PIMCO High Income Fund in the 2nd quarter worth $48,000. PNC Financial Services Group Inc. raised its holdings in PIMCO High Income Fund by 546.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,920 shares of the investment management company's stock worth $63,000 after purchasing an additional 10,920 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in PIMCO High Income Fund in the 2nd quarter worth $72,000. Nomura Holdings Inc. bought a new position in PIMCO High Income Fund in the 2nd quarter worth $72,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in PIMCO High Income Fund in the 1st quarter worth $85,000. 11.75% of the stock is currently owned by institutional investors.

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.