Short Interest in PIMCO High Income Fund (NYSE:PHK) Expands By 98.1%

PIMCO High Income Fund (NYSE:PHK) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 656,459 shares, a growth of 98.1% from the June 30th total of 331,309 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 925,256 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of PIMCO High Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of PHK. Cornerstone Planning Group LLC raised its stake in shares of PIMCO High Income Fund by 31,295.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 6,279 shares of the investment management company’s stock worth $31,000 after buying an additional 6,259 shares during the period. Jane Street Group LLC bought a new position in shares of PIMCO High Income Fund during the 2nd quarter valued at approximately $48,000. Bank of New York Mellon Corp bought a new position in shares of PIMCO High Income Fund during the 1st quarter valued at approximately $50,000. Glenview Trust Co purchased a new stake in PIMCO High Income Fund in the 4th quarter worth approximately $63,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in PIMCO High Income Fund in the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Trading Down 0.5%

Shares of PHK stock traded down $0.03 during mid-day trading on Wednesday, reaching $4.59. 561,092 shares of the company’s stock traded hands, compared to its average volume of 802,583. PIMCO High Income Fund has a 12 month low of $4.41 and a 12 month high of $5.04. The firm has a 50 day moving average price of $4.60 and a two-hundred day moving average price of $4.71.

PIMCO High Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.048 per share. The ex-dividend date is Monday, July 13th. This represents a c) annualized dividend and a yield of 12.5%.

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.