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

Pcm Fund (NYSE:PCM) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.68 and traded as low as $5.23. Pcm Fund shares last traded at $5.2650, with a volume of 62,177 shares changing hands.

Pcm Fund Price Performance

The firm has a 50-day simple moving average of $5.56 and a 200 day simple moving average of $5.67.

Pcm Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $0.0642 per share. This represents a c) annualized dividend and a dividend yield of 15.1%. The ex-dividend date is Friday, September 11th.

Hedge Funds Weigh In On Pcm Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Scotia Capital Inc. acquired a new stake in Pcm Fund in the third quarter valued at approximately $92,000. Integrity Advisory Solutions LLC bought a new position in Pcm Fund in the fourth quarter worth about $83,000. LPL Financial LLC lifted its holdings in shares of Pcm Fund by 6.7% in the 4th quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock worth $1,894,000 after purchasing an additional 19,364 shares during the last quarter. Everett Harris & Co. CA bought a new stake in Pcm Fund in the fourth quarter valued at $80,000. Finally, StoneX Group Inc. bought a new stake in Pcm Fund in the fourth quarter valued at $68,000. 10.26% of the stock is owned by institutional investors and hedge funds.

About Pcm Fund

PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.