PIMCO High Income Fund (NYSE:PHK) Reaches New 52-Week High at $5.04

PIMCO High Income Fund (NYSE:PHK) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.04 and last traded at $5.04, with a volume of 720818 shares traded. The stock had previously closed at $5.00.

PIMCO High Income Fund Price Performance

The company has a 50 day moving average of $4.86 and a 200 day moving average of $4.84.

PIMCO High Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 11.38%.

Institutional Investors Weigh In On PIMCO High Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creekside Partners bought a new position in PIMCO High Income Fund in the second quarter valued at about $241,000. Founders Financial Alliance LLC lifted its holdings in PIMCO High Income Fund by 37.9% in the second quarter. Founders Financial Alliance LLC now owns 52,091 shares of the investment management company’s stock valued at $251,000 after buying an additional 14,306 shares during the period. Cetera Investment Advisers grew its holdings in PIMCO High Income Fund by 15.3% during the 2nd quarter. Cetera Investment Advisers now owns 837,359 shares of the investment management company’s stock worth $4,036,000 after acquiring an additional 111,298 shares during the period. Envestnet Asset Management Inc. raised its position in shares of PIMCO High Income Fund by 8.1% during the 2nd 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 position in shares of PIMCO High Income Fund by 1.2% during the 2nd 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 last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

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.