PIMCO High Income Fund (NYSE:PHK) Sees Significant Growth in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 255,335 shares, a growth of 113.9% from the May 31st total of 119,345 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 681,480 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of PIMCO High Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC boosted its position in shares of PIMCO High Income Fund by 2.5% during the 4th quarter. LPL Financial LLC now owns 1,937,118 shares of the investment management company’s stock valued at $9,414,000 after acquiring an additional 47,241 shares during the last quarter. Osaic Holdings Inc. raised its stake in PIMCO High Income Fund by 32.8% in the fourth quarter. Osaic Holdings Inc. now owns 1,661,772 shares of the investment management company’s stock valued at $8,076,000 after purchasing an additional 410,137 shares in the last quarter. UBS Group AG raised its stake in PIMCO High Income Fund by 11.2% in the fourth quarter. UBS Group AG now owns 1,289,048 shares of the investment management company’s stock valued at $6,265,000 after purchasing an additional 130,086 shares in the last quarter. Invesco Ltd. raised its stake in PIMCO High Income Fund by 4.3% in the third quarter. Invesco Ltd. now owns 1,279,467 shares of the investment management company’s stock valued at $6,385,000 after purchasing an additional 53,263 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in PIMCO High Income Fund by 4.0% during 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 purchasing an additional 48,233 shares during the last quarter. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Stock Up 0.3%

PIMCO High Income Fund stock opened at $4.66 on Tuesday. PIMCO High Income Fund has a fifty-two week low of $4.41 and a fifty-two week high of $5.04. The firm’s fifty day moving average price is $4.58 and its 200-day moving average price is $4.74.

PIMCO High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Thursday, June 11th will be given a dividend of $0.048 per share. This represents a c) annualized dividend and a yield of 12.4%. The ex-dividend date is Thursday, June 11th.

About PIMCO High Income Fund

The PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK’s investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.