PIMCO High Income Fund (NYSE:PHK) Shares Cross Above 200-Day Moving Average – Time to Sell?

PIMCO High Income Fund (NYSE:PHK) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.93 and traded as high as $4.93. PIMCO High Income Fund shares last traded at $4.88, with a volume of 716,014 shares trading hands.

PIMCO High Income Fund Stock Performance

The stock’s 50 day moving average is $4.95 and its 200 day moving average is $4.93.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a $0.048 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.58 annualized dividend and a yield of 11.82%.

Hedge Funds Weigh In On PIMCO High Income Fund

Hedge funds have recently bought and sold shares of the company. Apollon Wealth Management LLC lifted its position in PIMCO High Income Fund by 82.4% during the third quarter. Apollon Wealth Management LLC now owns 445,266 shares of the investment management company’s stock valued at $2,226,000 after purchasing an additional 201,196 shares during the last quarter. Marks Group Wealth Management Inc bought a new stake in PIMCO High Income Fund in the 3rd quarter worth $1,403,000. International Assets Investment Management LLC increased its holdings in PIMCO High Income Fund by 400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 53,500 shares of the investment management company’s stock valued at $268,000 after purchasing an additional 42,800 shares during the period. PFG Investments LLC increased its stake in shares of PIMCO High Income Fund by 3.8% during the third quarter. PFG Investments LLC now owns 63,369 shares of the investment management company’s stock valued at $317,000 after buying an additional 2,310 shares during the period. Finally, Fortitude Family Office LLC bought a new position in PIMCO High Income Fund in the 3rd quarter worth $59,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.