PIMCO High Income Fund (NYSE:PHK) Sees Large Volume Increase – Should You Buy?

PIMCO High Income Fund (NYSE:PHK) shares saw strong trading volume on Monday . Approximately 1,296,422 shares traded hands during trading, an increase of 63% from the previous session’s volume of 796,516 shares.The stock last traded at $4.3250 and had previously closed at $4.36.

PIMCO High Income Fund Price Performance

The firm’s fifty day moving average is $4.59 and its 200-day moving average is $4.62.

PIMCO High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $0.048 per share. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%.

Hedge Funds Weigh In On PIMCO High Income Fund

Large investors have recently made changes to their positions in the stock. Highland Investment Advisors LLC purchased a new position in PIMCO High Income Fund during the 2nd quarter valued at about $47,000. Bank of New York Mellon Corp acquired a new position in PIMCO High Income Fund in the 2nd quarter valued at about $48,000. Concurrent Investment Advisors LLC acquired a new position in PIMCO High Income Fund in the 2nd quarter valued at about $50,000. Glenview Trust Co purchased a new stake in PIMCO High Income Fund during the fourth quarter worth about $63,000. Finally, Integrity Advisory Solutions LLC increased its stake in PIMCO High Income Fund by 28.2% during the fourth quarter. Integrity Advisory Solutions LLC now owns 16,832 shares of the investment management company’s stock worth $82,000 after purchasing an additional 3,707 shares during the period. 11.75% of the stock is currently owned by institutional investors and hedge funds.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of income-producing debt securities. These investments may include below-investment-grade corporate bonds, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments issued by companies and governments in the United States and international markets.