Pcm Fund (NYSE:PCM) Sees Significant Increase in Short Interest

Pcm Fund (NYSE:PCM) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 29,690 shares, a growth of 73.4% from the February 26th total of 17,122 shares. Based on an average daily volume of 50,889 shares, the short-interest ratio is currently 0.6 days. Currently, 0.2% of the shares of the stock are short sold.

Pcm Fund Trading Down 0.7%

Shares of PCM stock traded down $0.04 during trading hours on Friday, hitting $5.55. The stock had a trading volume of 77,886 shares, compared to its average volume of 56,059. Pcm Fund has a one year low of $5.52 and a one year high of $6.76. The stock’s 50-day moving average price is $5.96 and its two-hundred day moving average price is $6.20.

Pcm Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be issued a dividend of $0.0642 per share. This represents a c) annualized dividend and a dividend yield of 13.9%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rivernorth Capital Management LLC bought a new stake in Pcm Fund in the fourth quarter worth $1,849,000. Guggenheim Capital LLC lifted its position 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 valued at $1,779,000 after purchasing an additional 72,482 shares during the last quarter. Kestra Advisory Services LLC lifted its position in Pcm Fund by 65.2% during the fourth quarter. Kestra Advisory Services LLC now owns 34,637 shares of the investment management company’s stock valued at $213,000 after purchasing an additional 13,667 shares during the last quarter. StoneX Group Inc. purchased a new position in shares of Pcm Fund in the 4th quarter worth $68,000. Finally, Everett Harris & Co. CA purchased a new position in shares of Pcm Fund in the 4th quarter worth $80,000. 10.26% of the stock is 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.