Pcm Fund (NYSE:PCM) Stock Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• PCM Fund shares fell below their 200-day moving average, declining to an intraday low of $5.23 before last trading at $5.2650. The stock’s 200-day average was $5.68, with 62,177 shares traded.
• The fund announced a monthly dividend of $0.0642 per share, payable October 1 to shareholders of record September 11. The dividend implies an annualized yield of approximately 14.6%.
• Institutional ownership activity was mixed but generally positive, with several investment firms increasing their positions. Hedge funds and other institutions collectively own 10.26% of PCM Fund.

Shares of Pcm Fund (NYSE:PCM - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.68 and traded as low as $5.23. Pcm Fund shares last traded at $5.2650, with a volume of 62,177 shares trading hands.

Pcm Fund Trading Down 0.1%

The company's 50-day simple moving average is $5.57 and its 200 day simple moving average is $5.68.

Pcm Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a dividend of $0.0642 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) dividend on an annualized basis and a yield of 14.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC grew its position in Pcm Fund by 6.8% during the 2nd quarter. Rivernorth Capital Management LLC now owns 512,236 shares of the investment management company's stock worth $2,858,000 after purchasing an additional 32,732 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Pcm Fund by 6.7% during the 4th quarter. LPL Financial LLC now owns 308,436 shares of the investment management company's stock valued at $1,894,000 after purchasing an additional 19,364 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in Pcm Fund by 33.4% during the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company's stock worth $1,779,000 after buying an additional 72,482 shares in the last quarter. Concord Investment Counsel Inc. acquired a new stake in Pcm Fund during the second quarter valued at $358,000. Finally, Arlington Capital Management Inc. increased its holdings in Pcm Fund by 8.0% in the second quarter. Arlington Capital Management Inc. now owns 62,070 shares of the investment management company's stock valued at $346,000 after buying an additional 4,582 shares in the last quarter. 10.26% of the stock is currently owned by hedge funds and other institutional investors.

About Pcm Fund

PCM Fund, Inc NYSE: PCM is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund's investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.