PIMCO High Income Fund (NYSE:PHK) Sees Large Drop in Short Interest

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PIMCO High Income Fund (NYSE:PHK) was the recipient of a significant decline in short interest in January. As of January 29th, there was short interest totalling 100,800 shares, a decline of 30.0% from the January 14th total of 143,900 shares. Based on an average trading volume of 547,000 shares, the days-to-cover ratio is currently 0.2 days.

Shares of PHK stock traded up $0.04 on Tuesday, reaching $6.28. The company had a trading volume of 654,405 shares, compared to its average volume of 548,188. The business’s 50-day moving average is $6.13 and its 200 day moving average is $5.69. PIMCO High Income Fund has a one year low of $3.55 and a one year high of $7.64.

The business also recently announced a monthly dividend, which will be paid on Monday, March 1st. Shareholders of record on Thursday, February 11th will be given a $0.048 dividend. The ex-dividend date of this dividend is Wednesday, February 10th. This represents a $0.58 dividend on an annualized basis and a yield of 9.17%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Guggenheim Capital LLC bought a new position in shares of PIMCO High Income Fund in the 4th quarter valued at $247,000. Kingsview Wealth Management LLC bought a new position in PIMCO High Income Fund in the fourth quarter valued at about $183,000. Citigroup Inc. grew its holdings in shares of PIMCO High Income Fund by 1,601.7% during the fourth quarter. Citigroup Inc. now owns 47,187 shares of the investment management company’s stock worth $285,000 after purchasing an additional 44,414 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV increased its stake in shares of PIMCO High Income Fund by 7.2% in the fourth quarter. Mid Atlantic Financial Management Inc. ADV now owns 185,635 shares of the investment management company’s stock valued at $1,123,000 after buying an additional 12,517 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of PIMCO High Income Fund by 11.7% in the fourth quarter. HighTower Advisors LLC now owns 22,836 shares of the investment management company’s stock valued at $138,000 after buying an additional 2,389 shares during the period. 6.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

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