PCM Fund (NYSE:PCM) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

PCM Fund Inc. (NYSE:PCM) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.38 and traded as low as $6.41. PCM Fund shares last traded at $6.45, with a volume of 30,501 shares trading hands.

PCM Fund Price Performance

The stock’s 50 day simple moving average is $6.59 and its 200-day simple moving average is $7.37.

PCM Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.0642 dividend. This represents a $0.77 annualized dividend and a dividend yield of 11.89%. The ex-dividend date of this dividend is Friday, April 11th.

Hedge Funds Weigh In On PCM Fund

Several hedge funds have recently bought and sold shares of the business. Sovran Advisors LLC acquired a new stake in shares of PCM Fund in the fourth quarter worth about $443,000. Financial Advocates Investment Management raised its stake in shares of PCM Fund by 10.8% in the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock valued at $1,662,000 after acquiring an additional 20,950 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in PCM Fund in the 4th quarter worth approximately $137,000. Finally, Two Sigma Securities LLC bought a new stake in PCM Fund during the fourth quarter worth approximately $152,000. 10.26% of the stock is owned by institutional investors and hedge funds.

PCM Fund Company Profile

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.