PIMCO High Income Fund (NYSE:PHK) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

PIMCO High Income Fund (NYSE:PHK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.86 and traded as high as $5.09. PIMCO High Income Fund shares last traded at $5.07, with a volume of 389,159 shares changing hands.

PIMCO High Income Fund Price Performance

The firm has a 50-day simple moving average of $4.95 and a two-hundred day simple moving average of $4.86.

PIMCO High Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 11th will be given a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.36%. The ex-dividend date of this dividend is Friday, October 11th.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in PHK. Cetera Investment Advisers grew its position in shares of PIMCO High Income Fund by 307.0% during the first quarter. Cetera Investment Advisers now owns 726,061 shares of the investment management company’s stock worth $3,587,000 after buying an additional 547,667 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of 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 worth $3,435,000 after buying an additional 53,128 shares in the last quarter. Creekside Partners purchased a new stake in PIMCO High Income Fund during the second quarter worth approximately $241,000. International Assets Investment Management LLC lifted its stake in PIMCO High Income Fund by 400.0% during the third quarter. International Assets Investment Management LLC now owns 53,500 shares of the investment management company’s stock worth $268,000 after purchasing an additional 42,800 shares during the last quarter. Finally, Cornerstone Wealth Group LLC purchased a new stake in PIMCO High Income Fund during the first quarter worth approximately $123,000. 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.