Short Interest in PIMCO High Income Fund (NYSE:PHK) Increases By 67.5%

PIMCO High Income Fund (NYSE:PHK) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 719,172 shares, a growth of 67.5% from the November 30th total of 429,432 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average trading volume of 679,501 shares, the days-to-cover ratio is presently 1.1 days. Based on an average trading volume of 679,501 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PHK. New England Private Wealth Advisors LLC raised its holdings in shares of PIMCO High Income Fund by 195.6% during the third quarter. New England Private Wealth Advisors LLC now owns 44,347 shares of the investment management company’s stock worth $221,000 after purchasing an additional 29,347 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of PIMCO High Income Fund by 9.7% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 472,168 shares of the investment management company’s stock worth $2,356,000 after buying an additional 41,647 shares during the period. Bank of America Corp DE grew its position in shares of 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 purchasing an additional 70,674 shares during the period. Raymond James Financial Inc. increased its stake in PIMCO High Income Fund by 5.5% during the 3rd quarter. Raymond James Financial Inc. now owns 190,058 shares of the investment management company’s stock worth $948,000 after buying an additional 9,962 shares in the last quarter. Finally, Invesco Ltd. raised its stake in PIMCO High Income Fund by 4.3% in the 3rd 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. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Price Performance

Shares of PHK stock traded down $0.03 during trading hours on Monday, reaching $4.82. The company’s stock had a trading volume of 1,014,938 shares, compared to its average volume of 613,185. The firm’s fifty day simple moving average is $4.85 and its 200 day simple moving average is $4.87. PIMCO High Income Fund has a one year low of $4.18 and a one year high of $5.04.

PIMCO High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.048 per share. This represents a c) annualized dividend and a dividend yield of 12.0%. The ex-dividend date is Thursday, December 11th.

PIMCO High Income Fund Company Profile

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.