Short Interest in PIMCO High Income Fund (NYSE:PHK) Drops By 54.7%

PIMCO High Income Fund (NYSE:PHK) saw a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 41,300 shares, a decrease of 54.7% from the January 31st total of 91,100 shares. Based on an average trading volume of 643,800 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of PHK. Sugar Maple Asset Management LLC acquired a new position in PIMCO High Income Fund in the 4th quarter worth approximately $36,000. Carnegie Lake Advisors LLC acquired a new stake in shares of PIMCO High Income Fund in the fourth quarter worth $50,000. CreativeOne Wealth LLC purchased a new position in shares of PIMCO High Income Fund during the fourth quarter valued at $53,000. XTX Topco Ltd acquired a new position in PIMCO High Income Fund during the third quarter valued at $56,000. Finally, Anfield Capital Management LLC acquired a new position in PIMCO High Income Fund during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 11.75% of the company’s stock.

PIMCO High Income Fund Stock Performance

Shares of NYSE:PHK traded up $0.03 during trading hours on Friday, hitting $4.92. 487,370 shares of the company’s stock traded hands, compared to its average volume of 677,176. PIMCO High Income Fund has a 52 week low of $4.59 and a 52 week high of $5.18. The company’s fifty day simple moving average is $4.91 and its two-hundred day simple moving average is $4.95.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Thursday, February 13th will be given a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.72%. The ex-dividend date of this dividend is Thursday, February 13th.

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.