PCM Fund (NYSE:PCM) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

PCM Fund Inc. (NYSE:PCM)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.81 and traded as low as $6.71. PCM Fund shares last traded at $6.75, with a volume of 87,008 shares changing hands.

PCM Fund Price Performance

The stock has a 50-day moving average price of $7.82 and a two-hundred day moving average price of $7.81.

PCM Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be paid a $0.0642 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 11.42%. The ex-dividend date is Monday, January 13th.

Hedge Funds Weigh In On PCM Fund

An institutional investor recently raised its position in PCM Fund stock. Horizon Kinetics Asset Management LLC raised its position in shares of PCM Fund Inc. (NYSE:PCM) by 64.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,252 shares of the investment management company’s stock after purchasing an additional 15,720 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.34% of PCM Fund worth $322,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 10.26% of the company’s stock.

About PCM Fund

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.