PIMCO Access Income Fund (NYSE:PAXS) Sees Large Increase in Short Interest

PIMCO Access Income Fund (NYSE:PAXS) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 83,758 shares, a growth of 117.5% from the May 31st total of 38,509 shares. Based on an average daily volume of 211,754 shares, the short-interest ratio is currently 0.4 days.

PIMCO Access Income Fund Stock Up 0.4%

NYSE:PAXS traded up $0.06 during trading hours on Wednesday, hitting $14.61. 209,867 shares of the stock were exchanged, compared to its average volume of 216,473. The company’s 50 day moving average is $14.31 and its two-hundred day moving average is $14.91. PIMCO Access Income Fund has a twelve month low of $13.74 and a twelve month high of $16.56.

PIMCO Access Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.1494 per share. This represents a c) annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On PIMCO Access Income Fund

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in PIMCO Access Income Fund by 6.2% in the first quarter. Bank of America Corp DE now owns 421,321 shares of the company’s stock worth $6,071,000 after purchasing an additional 24,721 shares during the period. Rivernorth Capital Management LLC bought a new position in shares of PIMCO Access Income Fund in the 1st quarter valued at about $1,362,000. Royal Bank of Canada boosted its stake in shares of PIMCO Access Income Fund by 12.5% in the 1st quarter. Royal Bank of Canada now owns 1,152,845 shares of the company’s stock valued at $16,612,000 after purchasing an additional 127,806 shares during the last quarter. Independent Financial Group LLC acquired a new stake in shares of PIMCO Access Income Fund during the 1st quarter worth approximately $411,000. Finally, Corrado Advisors LLC grew its position in shares of PIMCO Access Income Fund by 5.6% during the 1st quarter. Corrado Advisors LLC now owns 160,268 shares of the company’s stock worth $2,309,000 after buying an additional 8,508 shares during the period.

PIMCO Access Income Fund Company Profile

The PIMCO Access Income Fund (NYSE:PAXS) is an actively managed, closed-end management investment company sponsored by Pacific Investment Management Company LLC (“PIMCO”). The fund seeks to provide current income, with a secondary objective of capital appreciation, by investing primarily in a diversified portfolio of global fixed income and income-related securities.

PAXS employs a broad credit strategy that spans corporate debt, structured finance instruments and emerging market debt.