PIMCO Access Income Fund (NYSE:PAXS) Sees Large Increase in Short Interest

PIMCO Access Income Fund (NYSE:PAXS) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 81,605 shares, a growth of 118.2% from the June 30th total of 37,404 shares. Based on an average trading volume of 144,484 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of PIMCO Access Income Fund during the fourth quarter worth approximately $34,000. GHP Investment Advisors Inc. bought a new stake in shares of PIMCO Access Income Fund in the 1st quarter worth about $41,000. Advisory Services Network LLC acquired a new stake in shares of PIMCO Access Income Fund in the 3rd quarter valued at about $61,000. Activest Wealth Management bought a new position in shares of PIMCO Access Income Fund during the fourth quarter worth about $115,000. Finally, Focus Financial Network Inc. bought a new stake in PIMCO Access Income Fund in the second quarter valued at about $154,000.

PIMCO Access Income Fund Price Performance

PAXS traded up $0.09 during trading on Tuesday, hitting $14.05. 179,204 shares of the company’s stock were exchanged, compared to its average volume of 208,994. PIMCO Access Income Fund has a 1 year low of $13.74 and a 1 year high of $16.56. The stock has a 50 day moving average price of $14.30 and a 200 day moving average price of $14.79.

PIMCO Access Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.1494 per share. This represents a c) dividend on an annualized basis and a yield of 12.8%. The ex-dividend date of this dividend is Monday, July 13th.

PIMCO Access Income Fund Company Profile

The PIMCO Access Income Fund (NYSE:PAXS) is an actively managed, closed-end management investment company sponsored by Pacific Investment Management Company LLC (“PIMCO”). The fund seeks to provide current income, with a secondary objective of capital appreciation, by investing primarily in a diversified portfolio of global fixed income and income-related securities.

PAXS employs a broad credit strategy that spans corporate debt, structured finance instruments and emerging market debt.