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

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.

Shares of PIMCO High Income Fund (NYSE:PHK - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.

PIMCO High Income Fund Trading Up 0.5%

The stock's fifty day simple moving average is $4.85 and its 200 day simple moving average is $4.81.

PIMCO High Income Fund Dividend Announcement

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

Institutional Trading of PIMCO High Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHK. Wells Fargo & Company MN increased its holdings in PIMCO High Income Fund by 550.0% during the fourth quarter. Wells Fargo & Company MN now owns 88,235 shares of the investment management company's stock valued at $429,000 after buying an additional 74,660 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of PIMCO High Income Fund in the fourth quarter worth $854,000. Mariner LLC increased its stake in shares of PIMCO High Income Fund by 24.6% in the fourth quarter. Mariner LLC now owns 21,512 shares of the investment management company's stock worth $105,000 after purchasing an additional 4,245 shares in the last quarter. Stifel Financial Corp increased its stake in shares of PIMCO High Income Fund by 32.1% in the fourth quarter. Stifel Financial Corp now owns 41,300 shares of the investment management company's stock worth $201,000 after purchasing an additional 10,036 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of PIMCO High Income Fund in the fourth quarter worth $109,000. 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.