Short Interest in PIMCO High Income Fund (NYSE:PHK) Expands By 98.1%

Key Points

• Short interest in PIMCO High Income Fund nearly doubled, rising 98.1% to 656,459 shares as of July 15. About 0.4% of PHK’s shares are sold short, with a short-interest ratio of 0.7 days.
• Institutional investors increased their positions during the fourth quarter, while institutional ownership reached 11.75% of the fund’s shares.
• PHK shares fell 0.5% to $4.59, near the middle of their 12-month range. The fund declared a monthly $0.048 dividend, representing an annualized yield of approximately 12.5%.

PIMCO High Income Fund (NYSE:PHK - Get Free Report) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 656,459 shares, an increase of 98.1% from the June 30th total of 331,309 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 925,256 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of PIMCO High Income Fund

Several large investors have recently modified their holdings of the company. TrueMark Investments LLC lifted its holdings in PIMCO High Income Fund by 3.7% in the fourth quarter. TrueMark Investments LLC now owns 79,784 shares of the investment management company's stock valued at $388,000 after acquiring an additional 2,862 shares during the period. Integrity Advisory Solutions LLC grew its stake in shares of PIMCO High Income Fund by 28.2% during the 4th quarter. Integrity Advisory Solutions LLC now owns 16,832 shares of the investment management company's stock valued at $82,000 after purchasing an additional 3,707 shares during the period. Moors & Cabot Inc. grew its stake in shares of PIMCO High Income Fund by 19.5% during the 4th quarter. Moors & Cabot Inc. now owns 24,500 shares of the investment management company's stock valued at $119,000 after purchasing an additional 4,000 shares during the period. Nilsine Partners LLC increased its position in shares of PIMCO High Income Fund by 3.0% during the 4th quarter. Nilsine Partners LLC now owns 171,108 shares of the investment management company's stock valued at $832,000 after purchasing an additional 4,987 shares during the last quarter. Finally, MML Investors Services LLC increased its position in shares of PIMCO High Income Fund by 7.9% during the 4th quarter. MML Investors Services LLC now owns 82,080 shares of the investment management company's stock valued at $399,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 11.75% of the company's stock.

PIMCO High Income Fund Trading Down 0.5%

PHK stock traded down $0.03 on Wednesday, hitting $4.59. The company had a trading volume of 561,092 shares, compared to its average volume of 802,583. PIMCO High Income Fund has a 12-month low of $4.41 and a 12-month high of $5.04. The stock's 50-day simple moving average is $4.60 and its 200 day simple moving average is $4.71.

PIMCO High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be paid a $0.048 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Monday, July 13th.

PIMCO High Income Fund Company Profile

The PIMCO High Income Fund NYSE: PHK is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK's investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.

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