PIMCO High Income Fund (NYSE:PHK) Sees Large Decrease in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 85,073 shares, a decline of 91.6% from the September 15th total of 1,017,455 shares. Based on an average trading volume of 1,825,832 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Insiders Place Their Bets

In other PIMCO High Income Fund news, Director David C. Flattum purchased 60,204 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was purchased at an average cost of $4.14 per share, with a total value of $249,244.56. Following the transaction, the director owned 60,204 shares in the company, valued at approximately $249,244.56. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On PIMCO High Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in PIMCO High Income Fund by 4.0% in the first quarter. Bank of America Corp DE now owns 1,247,814 shares of the investment management company’s stock valued at $5,777,000 after acquiring an additional 48,233 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of PIMCO High Income Fund by 6.9% in the first quarter. Cetera Investment Advisers now owns 941,248 shares of the investment management company’s stock valued at $4,358,000 after purchasing an additional 60,403 shares during the period. RFG Advisory LLC purchased a new position in shares of PIMCO High Income Fund in the second quarter valued at $1,821,000. Elm3 Financial Group LLC boosted its stake in shares of PIMCO High Income Fund by 3.1% in the third quarter. Elm3 Financial Group LLC now owns 272,684 shares of the investment management company’s stock valued at $1,118,000 after purchasing an additional 8,109 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in PIMCO High Income Fund by 3.5% during the 2nd quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company’s stock valued at $832,000 after purchasing an additional 6,021 shares in the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Trading Down 0.6%

Shares of PHK traded down $0.03 during midday trading on Friday, reaching $4.17. 1,714,362 shares of the company were exchanged, compared to its average volume of 1,876,230. PIMCO High Income Fund has a 1-year low of $4.04 and a 1-year high of $5.00. The stock has a 50-day moving average price of $4.42 and a 200-day moving average price of $4.54.

PIMCO High Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a dividend of $0.0480 per share. This represents a $0.58 annualized dividend and a dividend yield of 13.8%. The ex-dividend date is Tuesday, October 13th.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund (NYSE: PHK) is a closed-end fund managed by Pacific Investment Management Company LLC (PIMCO), a global investment management firm. The fund’s primary objective is to seek high current income for its shareholders, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of fixed-income securities, including corporate bonds, loans, mortgage-related instruments, government and sovereign debt, and other income-producing credit investments.