PCM Fund (NYSE:PCM) Shares Cross Below 200 Day Moving Average – What’s Next?

PCM Fund Inc. (NYSE:PCM) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.81 and traded as low as $6.71. PCM Fund shares last traded at $6.75, with a volume of 87,008 shares trading hands.

PCM Fund Stock Performance

The stock has a 50-day moving average of $7.85 and a 200-day moving average of $7.81.

PCM Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be issued a $0.0642 dividend. This represents a $0.77 annualized dividend and a yield of 11.42%. The ex-dividend date is Monday, January 13th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PCM Fund stock. Horizon Kinetics Asset Management LLC lifted its holdings in shares of PCM Fund Inc. (NYSE:PCM) by 64.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,252 shares of the investment management company’s stock after buying an additional 15,720 shares during the period. Horizon Kinetics Asset Management LLC owned about 0.34% of PCM Fund worth $322,000 as of its most recent filing with the SEC. 10.26% of the stock is owned by institutional investors.

About PCM Fund

PCM Fund Inc 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 seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.