PIMCO High Income Fund (NYSE:PHK) Hits New 1-Year Low – Time to Sell?

PIMCO High Income Fund (NYSE:PHKGet Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $4.38 and last traded at $4.3960, with a volume of 3421 shares changing hands. The stock had previously closed at $4.43.

PIMCO High Income Fund Stock Performance

The company’s 50 day simple moving average is $4.61 and its 200 day simple moving average is $4.63.

PIMCO High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a $0.048 dividend. The ex-dividend date is Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 13.1%.

Institutional Investors Weigh In On PIMCO High Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new stake in PIMCO High Income Fund in the second quarter worth approximately $47,000. Jane Street Group LLC acquired a new position in PIMCO High Income Fund during the second quarter worth about $48,000. Bank of New York Mellon Corp bought a new stake in PIMCO High Income Fund in the second quarter worth about $48,000. Concurrent Investment Advisors LLC bought a new stake in PIMCO High Income Fund in the second quarter worth about $50,000. Finally, Glenview Trust Co acquired a new stake in PIMCO High Income Fund in the 4th quarter valued at about $63,000. Institutional investors own 11.75% of the company’s stock.

About PIMCO High Income Fund

(Get Free Report)

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.

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