PIMCO High Income Fund (NYSE:PHK) Shares Cross Below 200 Day Moving Average – What’s Next?

PIMCO High Income Fund (NYSE:PHK)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.85 and traded as low as $4.60. PIMCO High Income Fund shares last traded at $4.6750, with a volume of 874,818 shares changing hands.

PIMCO High Income Fund Price Performance

The stock has a 50-day moving average price of $4.79 and a 200 day moving average price of $4.85.

PIMCO High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Monday, April 13th will be given a $0.048 dividend. The ex-dividend date of this dividend is Monday, April 13th. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%.

Institutional Investors Weigh In On PIMCO High Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Guerra Advisors Inc purchased a new stake in shares of PIMCO High Income Fund in the third quarter valued at $28,000. Aspect Partners LLC purchased a new stake in shares of PIMCO High Income Fund in the third quarter valued at $29,000. Cornerstone Planning Group LLC grew its position in PIMCO High Income Fund by 31,295.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 6,279 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 6,259 shares during the period. Jane Street Group LLC purchased a new stake in PIMCO High Income Fund during the second quarter valued at about $48,000. Finally, Zullo Investment Group Inc. purchased a new stake in PIMCO High Income Fund during the third quarter valued at about $50,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About PIMCO High Income Fund

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.