PIMCO High Income Fund (NYSE:PHK) Short Interest Update

PIMCO High Income Fund (NYSE:PHK) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 1,800,436 shares, a growth of 174.3% from the July 15th total of 656,459 shares. Based on an average trading volume of 1,309,153 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.0% of the company’s stock are sold short.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of PIMCO High Income Fund in the 2nd quarter valued at about $48,000. Western Wealth Management LLC bought a new position in shares of PIMCO High Income Fund during the 1st quarter worth approximately $501,000. Bank of America Corp DE raised its stake in shares of PIMCO High Income Fund by 4.0% during the 1st quarter. Bank of America Corp DE now owns 1,247,814 shares of the investment management company’s stock worth $5,777,000 after acquiring an additional 48,233 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in PIMCO High Income Fund during the first quarter valued at approximately $117,000. Finally, Cetera Investment Advisers lifted its position in PIMCO High Income Fund by 6.9% during the first quarter. Cetera Investment Advisers now owns 941,248 shares of the investment management company’s stock valued at $4,358,000 after acquiring an additional 60,403 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors.

PIMCO High Income Fund Trading Down 0.5%

Shares of PHK traded down $0.03 during trading hours on Friday, hitting $4.62. The company had a trading volume of 975,488 shares, compared to its average volume of 1,015,182. PIMCO High Income Fund has a one year low of $4.41 and a one year high of $5.04. The company’s fifty day moving average price is $4.63 and its two-hundred day moving average price is $4.69.

PIMCO High Income Fund Announces Dividend

The business 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. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date is Thursday, August 13th.

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.