Short Interest in PIMCO High Income Fund (NYSE:PHK) Grows By 70.7%

PIMCO High Income Fund (NYSE:PHK) saw a significant growth in short interest in 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. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 692,100 shares, the short-interest ratio is presently 0.2 days.

PIMCO High Income Fund Stock Performance

PIMCO High Income Fund stock traded down $0.03 during midday trading on Friday, reaching $4.87. 438,183 shares of the stock traded hands, compared to its average volume of 585,103. The company has a 50-day simple moving average of $4.91 and a two-hundred day simple moving average of $4.96. PIMCO High Income Fund has a 12-month low of $4.59 and a 12-month high of $5.18.

PIMCO High Income Fund Announces Dividend

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

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. Alpha Cubed Investments LLC acquired a new position in shares of PIMCO High Income Fund in the 4th quarter valued at $93,000. Sugar Maple Asset Management LLC purchased a new stake in PIMCO High Income Fund during the 4th quarter valued at approximately $36,000. Park Avenue Securities LLC raised its stake in shares of PIMCO High Income Fund by 5.0% during the fourth quarter. Park Avenue Securities LLC now owns 297,590 shares of the investment management company’s stock worth $1,446,000 after purchasing an additional 14,078 shares during the last quarter. Integrated Capital Management Inc. boosted its holdings in PIMCO High Income Fund by 6.4% during the fourth quarter. Integrated Capital Management Inc. now owns 65,276 shares of the investment management company’s stock worth $317,000 after buying an additional 3,921 shares in the last quarter. Finally, Rivernorth Capital Management LLC increased its holdings in PIMCO High Income Fund by 6.5% in the third quarter. Rivernorth Capital Management LLC now owns 4,939,765 shares of the investment management company’s stock valued at $24,699,000 after buying an additional 301,706 shares in the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

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.