Pcm Fund (NYSE:PCM) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Pcm Fund (NYSE:PCM) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.36 and traded as low as $6.28. Pcm Fund shares last traded at $6.31, with a volume of 35,042 shares traded.

Pcm Fund Price Performance

The firm’s 50 day moving average price is $6.51 and its two-hundred day moving average price is $6.36.

Pcm Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Tuesday, October 14th will be given a $0.0642 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Tuesday, October 14th.

Hedge Funds Weigh In On Pcm Fund

A number of large investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new position in shares of Pcm Fund in the first quarter valued at approximately $1,565,000. Ieq Capital LLC bought a new stake in Pcm Fund during the first quarter valued at approximately $591,000. Finally, Arlington Capital Management Inc. bought a new stake in Pcm Fund during the first quarter valued at approximately $651,000. 10.26% of the stock is currently owned by institutional investors.

About Pcm Fund

PCM Fund Inc is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.