Pcm Fund (NYSE:PCM) Stock Short Interest Falls 37.0%

Pcm Fund (NYSE:PCM) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 44,292 shares, a decrease of 37.0% from the August 31st total of 70,259 shares. Based on an average daily trading volume, of 127,271 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the company’s stock are short sold.

Institutional Investors Weigh In On Pcm Fund

A number of institutional investors have recently added to or reduced their stakes in PCM. Everett Harris & Co. CA bought a new stake in shares of Pcm Fund in the fourth quarter worth $80,000. Landscape Capital Management L.L.C. bought a new position in Pcm Fund during the 2nd quarter worth $322,000. Arlington Capital Management Inc. bought a new position in Pcm Fund during the 1st quarter worth $328,000. Concord Investment Counsel Inc. acquired a new position in Pcm Fund during the 2nd quarter worth about $358,000. Finally, Rivernorth Capital Management LLC lifted its holdings in Pcm Fund by 59.3% during the 1st quarter. Rivernorth Capital Management LLC now owns 479,504 shares of the investment management company’s stock worth $2,738,000 after buying an additional 178,434 shares during the period. 10.26% of the stock is owned by institutional investors.

Pcm Fund Stock Up 1.5%

PCM opened at $5.09 on Friday. Pcm Fund has a 12-month low of $4.85 and a 12-month high of $6.76. The business has a 50 day moving average of $5.34 and a 200-day moving average of $5.56.

Pcm Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be paid a $0.0642 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $0.77 annualized dividend and a dividend yield of 15.1%.

Pcm Fund Company Profile

PCM Fund, Inc (NYSE: PCM) is a closed-end investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund is designed to provide investors with access to professionally managed fixed-income investments rather than operating a conventional business.

The fund primarily invests in commercial mortgage-backed securities and other mortgage-related investments. Its investment strategy is focused on generating a high level of current income, with capital appreciation as a secondary objective.