PIMCO High Income Fund (NYSE:PHK) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

PIMCO High Income Fund (NYSE:PHK)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.85 and traded as high as $4.86. PIMCO High Income Fund shares last traded at $4.8550, with a volume of 448,884 shares changing hands.

PIMCO High Income Fund Price Performance

The stock has a fifty day simple moving average of $4.87 and a two-hundred day simple moving average of $4.85.

PIMCO High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.048 per share. This represents a c) dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Friday, November 14th.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in PHK. Bank of America Corp DE increased its holdings in PIMCO High Income Fund by 7.4% in the third quarter. Bank of America Corp DE now owns 1,030,933 shares of the investment management company’s stock valued at $5,144,000 after buying an additional 70,674 shares in the last quarter. Raymond James Financial Inc. boosted its position in PIMCO High Income Fund by 5.5% during the third quarter. Raymond James Financial Inc. now owns 190,058 shares of the investment management company’s stock worth $948,000 after purchasing an additional 9,962 shares in the last quarter. Invesco Ltd. grew its holdings 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 during the last quarter. UBS Group AG grew its holdings in PIMCO High Income Fund by 11.5% in the third quarter. UBS Group AG now owns 1,158,962 shares of the investment management company’s stock valued at $5,783,000 after purchasing an additional 119,350 shares during the last quarter. Finally, New England Private Wealth Advisors LLC increased its position in shares of PIMCO High Income Fund by 195.6% in the third quarter. New England Private Wealth Advisors LLC now owns 44,347 shares of the investment management company’s stock valued at $221,000 after buying an additional 29,347 shares in the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

About PIMCO High Income Fund

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.