PIMCO High Income Fund (NYSE:PHK) Reaches New 1-Year Low – Time to Sell?

PIMCO High Income Fund (NYSE:PHK)’s stock price reached a new 52-week low during trading on Saturday . The company traded as low as $4.56 and last traded at $4.63, with a volume of 4091950 shares traded. The stock had previously closed at $4.87.

PIMCO High Income Fund Trading Down 5.0 %

The firm’s 50-day moving average is $4.90 and its two-hundred day moving average is $4.96.

PIMCO High Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.048 per share. The ex-dividend date is Friday, April 11th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 12.45%.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of large investors have recently bought and sold shares of the business. Sugar Maple Asset Management LLC bought a new position in PIMCO High Income Fund during the fourth quarter valued at about $36,000. Carnegie Lake Advisors LLC acquired a new position in shares of PIMCO High Income Fund during the 4th quarter valued at about $50,000. CreativeOne Wealth LLC bought a new position in shares of PIMCO High Income Fund in the 4th quarter valued at approximately $53,000. XTX Topco Ltd acquired a new stake in PIMCO High Income Fund in the 3rd quarter worth approximately $56,000. Finally, Anfield Capital Management LLC acquired a new stake in PIMCO High Income Fund in the 4th quarter worth approximately $55,000. 11.75% of the stock is currently owned by 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.