PIMCO High Income Fund (NYSE:PHK) Sees Large Decrease in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 90,500 shares, a decline of 18.2% from the August 15th total of 110,600 shares. Based on an average trading volume of 533,200 shares, the days-to-cover ratio is presently 0.2 days.

PIMCO High Income Fund Trading Down 1.0 %

NYSE PHK opened at $4.91 on Monday. The stock has a 50 day moving average price of $4.83 and a 200-day moving average price of $4.84. PIMCO High Income Fund has a one year low of $4.13 and a one year high of $5.04.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.048 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.58 annualized dividend and a yield of 11.73%.

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. Creekside Partners bought a new position in shares of PIMCO High Income Fund during the 2nd quarter valued at approximately $241,000. Founders Financial Alliance LLC boosted its stake in PIMCO High Income Fund by 37.9% during the second quarter. Founders Financial Alliance LLC now owns 52,091 shares of the investment management company’s stock worth $251,000 after buying an additional 14,306 shares during the period. Cetera Investment Advisers increased its position in PIMCO High Income Fund by 15.3% during the second quarter. Cetera Investment Advisers now owns 837,359 shares of the investment management company’s stock valued at $4,036,000 after acquiring an additional 111,298 shares during the last quarter. Envestnet Asset Management Inc. increased its position in PIMCO High Income Fund by 8.1% during the second quarter. Envestnet Asset Management Inc. now owns 712,629 shares of the investment management company’s stock valued at $3,435,000 after acquiring an additional 53,128 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of PIMCO High Income Fund by 1.2% in the second quarter. Commonwealth Equity Services LLC now owns 769,240 shares of the investment management company’s stock valued at $3,708,000 after acquiring an additional 9,230 shares during the period. 11.75% of the stock is currently owned by hedge funds and other institutional investors.

About PIMCO High Income Fund

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.