PIMCO High Income Fund (NYSE:PHK) Reaches New 12-Month Low – Should You Sell?

PIMCO High Income Fund (NYSE:PHK)’s share price hit a new 52-week low during trading on Saturday . The company traded as low as $4.56 and last traded at $4.63, with a volume of 4091950 shares changing hands. The stock had previously closed at $4.87.

PIMCO High Income Fund Price Performance

The firm has a 50-day moving average price of $4.90 and a two-hundred day moving average price of $4.96.

PIMCO High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.048 per share. The ex-dividend date is Friday, April 11th. This represents a $0.58 annualized dividend and a yield of 12.45%.

Institutional Investors Weigh In On PIMCO High Income Fund

Hedge funds have recently modified their holdings of the business. Carnegie Lake Advisors LLC purchased a new stake in PIMCO High Income Fund during the 4th quarter valued at about $50,000. Apollon Wealth Management LLC grew its position in shares of PIMCO High Income Fund by 40.5% in the fourth quarter. Apollon Wealth Management LLC now owns 625,563 shares of the investment management company’s stock valued at $3,040,000 after purchasing an additional 180,297 shares in the last quarter. Alpha Cubed Investments LLC acquired a new stake in shares of PIMCO High Income Fund in the fourth quarter valued at approximately $93,000. Sugar Maple Asset Management LLC purchased a new position in PIMCO High Income Fund during the fourth quarter worth approximately $36,000. Finally, Park Avenue Securities LLC boosted its stake in PIMCO High Income Fund by 5.0% during the fourth quarter. Park Avenue Securities LLC now owns 297,590 shares of the investment management company’s stock worth $1,446,000 after buying an additional 14,078 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.