PIMCO High Income Fund (NYSE:PHK) Stock Passes Above 200-Day Moving Average – What’s Next?

PIMCO High Income Fund (NYSE:PHK) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.90 and traded as high as $4.91. PIMCO High Income Fund shares last traded at $4.91, with a volume of 510,219 shares changing hands.

PIMCO High Income Fund Price Performance

The firm’s 50-day moving average is $4.91 and its two-hundred day moving average is $4.90.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 12th will be given a $0.048 dividend. The ex-dividend date is Thursday, February 12th. This represents a c) annualized dividend and a yield of 11.8%.

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 stock. Guerra Advisors Inc purchased a new position in shares of PIMCO High Income Fund in the 3rd quarter worth approximately $28,000. Aspect Partners LLC purchased a new position in PIMCO High Income Fund during the third quarter worth $29,000. Cornerstone Planning Group LLC increased 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 last quarter. Jane Street Group LLC bought a new position in PIMCO High Income Fund during the second quarter valued at $48,000. Finally, Zullo Investment Group Inc. purchased a new stake in shares of PIMCO High Income Fund in the third quarter valued at $50,000. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

PIMCO High Income Fund Company Profile

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.