PCM Fund (NYSE:PCM) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

PCM Fund Inc. (NYSE:PCM) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.86 and traded as low as $7.68. PCM Fund shares last traded at $7.71, with a volume of 23,523 shares changing hands.

PCM Fund Stock Up 0.5 %

The firm has a fifty day moving average of $8.06 and a 200-day moving average of $7.86.

PCM Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 12th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 12.45%. The ex-dividend date is Thursday, December 12th.

Hedge Funds Weigh In On PCM Fund

An institutional investor recently raised its position in PCM Fund stock. Financial Advocates Investment Management lifted its stake in PCM Fund Inc. (NYSE:PCM) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,897 shares of the investment management company’s stock after purchasing an additional 5,972 shares during the period. Financial Advocates Investment Management owned 1.51% of PCM Fund worth $1,342,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.