PIMCO High Income Fund (NYSE:PHK) Sees Significant Increase in Short Interest

PIMCO High Income Fund (NYSE:PHK) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 654,600 shares, a growth of 44.5% from the September 30th total of 452,900 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 629,800 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 629,800 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.4% of the company’s shares are sold short.

PIMCO High Income Fund Trading Down 0.1%

PHK stock opened at $4.85 on Monday. PIMCO High Income Fund has a 1 year low of $4.18 and a 1 year high of $5.10. The stock has a 50-day simple moving average of $4.92 and a 200-day simple moving average of $4.84.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Tuesday, October 14th will be paid a $0.048 dividend. The ex-dividend date is Tuesday, October 14th. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%.

Institutional Investors Weigh In On PIMCO High Income Fund

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of PIMCO High Income Fund by 546.0% in the first quarter. PNC Financial Services Group Inc. now owns 12,920 shares of the investment management company’s stock valued at $63,000 after buying an additional 10,920 shares in the last quarter. Ethos Financial Group LLC acquired a new stake in shares of PIMCO High Income Fund in the first quarter valued at about $96,000. Founders Financial Alliance LLC grew its stake in shares of PIMCO High Income Fund by 10.8% in the first quarter. Founders Financial Alliance LLC now owns 71,907 shares of the investment management company’s stock valued at $352,000 after buying an additional 7,020 shares in the last quarter. Cetera Investment Advisers grew its stake in PIMCO High Income Fund by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 496,351 shares of the investment management company’s stock valued at $2,427,000 after purchasing an additional 12,403 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in PIMCO High Income Fund by 10.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 97,382 shares of the investment management company’s stock valued at $476,000 after purchasing an additional 9,264 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.