PIMCO High Income Fund (NYSE:PHK) Sees Significant Increase in Short Interest

PIMCO High Income Fund (NYSE:PHK) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 654,600 shares, a growth of 44.5% from the September 30th total of 452,900 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 629,800 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 629,800 shares, the short-interest ratio is presently 1.0 days. Approximately 0.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On PIMCO High Income Fund

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in PIMCO High Income Fund by 546.0% during the first quarter. PNC Financial Services Group Inc. now owns 12,920 shares of the investment management company’s stock worth $63,000 after buying an additional 10,920 shares during the period. Ethos Financial Group LLC purchased a new position in PIMCO High Income Fund during the first quarter worth about $96,000. Founders Financial Alliance LLC lifted its position in PIMCO High Income Fund by 10.8% during the first quarter. Founders Financial Alliance LLC now owns 71,907 shares of the investment management company’s stock worth $352,000 after buying an additional 7,020 shares during the period. Cetera Investment Advisers lifted its position in PIMCO High Income Fund by 2.6% during the first quarter. Cetera Investment Advisers now owns 496,351 shares of the investment management company’s stock worth $2,427,000 after buying an additional 12,403 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in PIMCO High Income Fund by 10.5% during the first quarter. Avantax Advisory Services Inc. now owns 97,382 shares of the investment management company’s stock worth $476,000 after buying an additional 9,264 shares during the period. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

PIMCO High Income Fund Stock Performance

Shares of NYSE:PHK opened at $4.85 on Monday. PIMCO High Income Fund has a 52-week low of $4.18 and a 52-week high of $5.10. The stock’s fifty day simple moving average is $4.92 and its 200-day simple moving average is $4.84.

PIMCO High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Tuesday, October 14th will be given a dividend of $0.048 per share. The ex-dividend date is Tuesday, October 14th. This represents a c) annualized dividend and a yield of 11.9%.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.