PIMCO High Income Fund (NYSE:PHK) Hits New 52-Week Low – Time to Sell?

Shares of PIMCO High Income Fund (NYSE:PHK) hit a new 52-week low during trading on Friday . The stock traded as low as $4.26 and last traded at $4.2850, with a volume of 608084 shares changing hands. The stock had previously closed at $4.38.

PIMCO High Income Fund Stock Down 2.6%

The stock has a fifty day moving average of $4.58 and a 200-day moving average of $4.61.

PIMCO High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $0.048 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 13.5%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new stake in shares of PIMCO High Income Fund in the 2nd quarter valued at $47,000. Bank of New York Mellon Corp purchased a new position in PIMCO High Income Fund in the second quarter valued at $48,000. Concurrent Investment Advisors LLC acquired a new stake in PIMCO High Income Fund in the second quarter valued at $50,000. Glenview Trust Co acquired a new stake in PIMCO High Income Fund in the fourth quarter valued at $63,000. Finally, Integrity Advisory Solutions LLC lifted its holdings in PIMCO High Income Fund by 28.2% during the 4th quarter. Integrity Advisory Solutions LLC now owns 16,832 shares of the investment management company’s stock worth $82,000 after buying an additional 3,707 shares during the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.