PIMCO Dynamic Income Fund (NYSE:PDI) Stock Short Interest Falls 96.5%

PIMCO Dynamic Income Fund (NYSE:PDI) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 25,244 shares, a decline of 96.5% from the September 15th total of 731,638 shares. Based on an average daily volume of 4,630,264 shares, the days-to-cover ratio is presently 0.0 days.

Insider Buying and Selling

In related news, Director Sonya Morris acquired 5,700 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average price of $14.02 per share, with a total value of $79,914.00. Following the acquisition, the director owned 5,700 shares of the company’s stock, valued at approximately $79,914. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Rappaport bought 5,500 shares of PIMCO Dynamic Income Fund stock in a transaction on Thursday, September 24th. The shares were bought at an average cost of $13.76 per share, with a total value of $75,680.00. Following the acquisition, the director directly owned 9,313 shares in the company, valued at approximately $128,146.88. This represents a 144.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 28,648 shares of company stock valued at $405,100.

Institutional Investors Weigh In On PIMCO Dynamic Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of PDI. Independent Financial Group LLC purchased a new position in PIMCO Dynamic Income Fund in the 1st quarter worth approximately $8,898,000. Arkadios Wealth Advisors raised its position in shares of PIMCO Dynamic Income Fund by 2,177.6% during the 1st quarter. Arkadios Wealth Advisors now owns 380,364 shares of the company’s stock valued at $6,508,000 after buying an additional 363,664 shares in the last quarter. Sentinel Advisory Group LLC bought a new stake in shares of PIMCO Dynamic Income Fund during the 1st quarter worth $5,856,000. Wealth Care LLC bought a new stake in shares of PIMCO Dynamic Income Fund during the 1st quarter worth $3,865,000. Finally, PNC Financial Services Group Inc. grew its position in PIMCO Dynamic Income Fund by 206.5% in the first quarter. PNC Financial Services Group Inc. now owns 249,215 shares of the company’s stock worth $4,264,000 after acquiring an additional 167,912 shares in the last quarter.

PIMCO Dynamic Income Fund Price Performance

Shares of PDI stock traded up $0.02 during trading hours on Friday, reaching $14.35. The stock had a trading volume of 3,609,546 shares, compared to its average volume of 3,125,536. The stock’s fifty day simple moving average is $14.99 and its 200 day simple moving average is $16.18. PIMCO Dynamic Income Fund has a 12 month low of $13.73 and a 12 month high of $19.93.

PIMCO Dynamic Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be paid a $0.2205 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $2.65 annualized dividend and a yield of 18.4%.

PIMCO Dynamic Income Fund Company Profile

PIMCO Dynamic Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol PDI. The fund seeks to provide current income while also pursuing capital appreciation as a secondary objective. It is advised by Pacific Investment Management Company LLC (PIMCO), a global investment manager and a subsidiary of Allianz Group.

The fund invests primarily in a diversified portfolio of fixed-income instruments and other income-producing assets. Its holdings may include mortgage-related securities, high-yield and investment-grade corporate bonds, sovereign and emerging-market debt, bank loans, asset-backed securities and other credit investments.