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

PIMCO High Income Fund (NYSE:PHK) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 146,300 shares, a growth of 70.7% from the February 28th total of 85,700 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 692,100 shares, the days-to-cover ratio is presently 0.2 days.

PIMCO High Income Fund Stock Performance

NYSE:PHK traded down $0.03 on Friday, hitting $4.87. 438,183 shares of the stock were exchanged, compared to its average volume of 585,103. PIMCO High Income Fund has a fifty-two week low of $4.59 and a fifty-two week high of $5.18. The stock has a fifty day moving average of $4.91 and a 200-day moving average of $4.96.

PIMCO High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.048 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.58 annualized dividend and a dividend yield of 11.83%.

Hedge Funds Weigh In On PIMCO High Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its holdings in PIMCO High Income Fund by 0.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 779,132 shares of the investment management company’s stock worth $3,787,000 after buying an additional 2,261 shares in the last quarter. Founders Financial Alliance LLC lifted its stake in PIMCO High Income Fund by 3.8% during the fourth quarter. Founders Financial Alliance LLC now owns 64,887 shares of the investment management company’s stock valued at $315,000 after purchasing an additional 2,362 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in PIMCO High Income Fund by 2.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 101,398 shares of the investment management company’s stock worth $493,000 after purchasing an additional 2,634 shares in the last quarter. Centric Wealth Management boosted its stake in PIMCO High Income Fund by 18.2% in the 4th quarter. Centric Wealth Management now owns 24,847 shares of the investment management company’s stock worth $121,000 after purchasing an additional 3,831 shares during the period. Finally, Integrated Capital Management Inc. lifted its holdings in shares of PIMCO High Income Fund by 6.4% in the fourth quarter. Integrated Capital Management Inc. now owns 65,276 shares of the investment management company’s stock valued at $317,000 after purchasing an additional 3,921 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.