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

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

Pcm Fund Stock Performance

Pcm Fund stock traded down $0.01 during mid-day trading on Friday, reaching $5.01. 25,808 shares of the company’s stock were exchanged, compared to its average volume of 54,951. The business’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $5.57. Pcm Fund has a one year low of $4.85 and a one year high of $6.76.

Pcm Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a dividend of $0.0642 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 15.4%.

Institutional Investors Weigh In On Pcm Fund

A number of large investors have recently bought and sold shares of PCM. Arlington Capital Management Inc. lifted its position in shares of Pcm Fund by 8.0% in the 2nd quarter. Arlington Capital Management Inc. now owns 62,070 shares of the investment management company’s stock valued at $346,000 after acquiring an additional 4,582 shares in the last quarter. Rivernorth Capital Management LLC increased its position in Pcm Fund by 6.8% in the 2nd quarter. Rivernorth Capital Management LLC now owns 512,236 shares of the investment management company’s stock valued at $2,858,000 after acquiring an additional 32,732 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Pcm Fund in the second quarter valued at $322,000. Concord Investment Counsel Inc. purchased a new stake in shares of Pcm Fund during the second quarter worth $358,000. Finally, Everett Harris & Co. CA purchased a new position in shares of Pcm Fund in the fourth quarter worth $80,000. Institutional investors and hedge funds own 10.26% of the company’s stock.

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.