PIMCO High Income Fund (NYSE:PHK) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of PIMCO High Income Fund (NYSE:PHK) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.72 and traded as high as $4.74. PIMCO High Income Fund shares last traded at $4.7150, with a volume of 6,568,628 shares.

PIMCO High Income Fund Price Performance

The company has a fifty day moving average price of $4.58 and a two-hundred day moving average price of $4.72.

PIMCO High Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be paid a dividend of $0.048 per share. This represents a c) dividend on an annualized basis and a yield of 12.2%. The ex-dividend date is Monday, July 13th.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHK. Franklin Resources Inc. acquired a new stake in shares of PIMCO High Income Fund in the second quarter valued at approximately $235,000. Invesco Ltd. increased its holdings in shares of PIMCO High Income Fund by 2.3% in the 2nd quarter. Invesco Ltd. now owns 1,226,204 shares of the investment management company’s stock valued at $5,886,000 after acquiring an additional 27,751 shares during the period. Jane Street Group LLC purchased a new stake in PIMCO High Income Fund in the 2nd quarter valued at $48,000. Bank of America Corp DE raised its position in PIMCO High Income Fund by 3.5% in the 2nd quarter. Bank of America Corp DE now owns 960,259 shares of the investment management company’s stock valued at $4,609,000 after purchasing an additional 32,540 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its stake in PIMCO High Income Fund by 23.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 430,521 shares of the investment management company’s stock worth $2,067,000 after purchasing an additional 80,433 shares during the period. Hedge funds and other institutional investors 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.