PIMCO High Income Fund (NYSE:PHK) Share Price Passes Above 200-Day Moving Average – What’s Next?

Shares of PIMCO High Income Fund (NYSE:PHK) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.69 and traded as high as $4.73. PIMCO High Income Fund shares last traded at $4.6950, with a volume of 591,221 shares.

PIMCO High Income Fund Stock Performance

The stock has a 50 day moving average price of $4.63 and a two-hundred day moving average price of $4.69.

PIMCO High Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be paid a $0.048 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 12.4%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Cornerstone Planning Group LLC boosted its holdings in PIMCO High Income Fund by 31,295.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 6,279 shares of the investment management company’s stock worth $31,000 after purchasing an additional 6,259 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of PIMCO High Income Fund in the 2nd quarter valued at approximately $48,000. Jane Street Group LLC acquired a new stake in PIMCO High Income Fund in the 2nd quarter worth approximately $48,000. Glenview Trust Co acquired a new stake in PIMCO High Income Fund in the 4th quarter worth approximately $63,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in PIMCO High Income Fund during the second quarter worth approximately $72,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

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.