PCM Fund (NYSE:PCM) Stock Price Passes Below 200 Day Moving Average – Here’s Why

PCM Fund Inc. (NYSE:PCM)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.57 and traded as low as $6.54. PCM Fund shares last traded at $6.56, with a volume of 118,215 shares.

PCM Fund Price Performance

The firm has a 50 day moving average of $6.83 and a 200-day moving average of $7.57.

PCM Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 3rd. Investors of record on Thursday, February 13th were paid a $0.0642 dividend. This represents a $0.77 annualized dividend and a yield of 11.76%. The ex-dividend date of this dividend was Thursday, February 13th.

Institutional Investors Weigh In On PCM Fund

Several hedge funds have recently bought and sold shares of the business. Horizon Kinetics Asset Management LLC lifted its stake in PCM Fund by 64.1% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company’s stock worth $322,000 after acquiring an additional 15,720 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in PCM Fund in the 4th quarter worth about $137,000. Two Sigma Securities LLC purchased a new stake in shares of PCM Fund during the 4th quarter worth about $152,000. Financial Advocates Investment Management raised its stake in shares of PCM Fund by 10.8% during the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock worth $1,662,000 after purchasing an additional 20,950 shares in the last quarter. Finally, Sovran Advisors LLC purchased a new stake in shares of PCM Fund during the 4th quarter worth about $443,000. 10.26% of the stock is owned by hedge funds and other institutional investors.

PCM Fund Company Profile

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.