PIMCO High Income Fund (NYSE:PHK) Sees Strong Trading Volume – Should You Buy?

Shares of PIMCO High Income Fund (NYSE:PHK) saw unusually-strong trading volume on Monday . Approximately 876,168 shares were traded during trading, an increase of 18% from the previous session’s volume of 744,571 shares.The stock last traded at $4.74 and had previously closed at $4.87.

PIMCO High Income Fund Stock Performance

The stock has a fifty day moving average price of $4.92 and a 200 day moving average price of $4.90.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.048 per share. This represents a c) annualized dividend and a yield of 12.0%. The ex-dividend date is Thursday, March 12th.

Institutional Trading of PIMCO High Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Porfolio Solutions LLC boosted its holdings in shares of PIMCO High Income Fund by 145.3% during the 4th quarter. Orion Porfolio Solutions LLC now owns 1,158,205 shares of the investment management company’s stock worth $5,629,000 after buying an additional 686,037 shares during the period. GraniteShares Advisors LLC bought a new position in PIMCO High Income Fund in the 4th quarter worth $2,734,000. Osaic Holdings Inc. lifted its position in PIMCO High Income Fund by 32.8% during the 4th quarter. Osaic Holdings Inc. now owns 1,661,772 shares of the investment management company’s stock worth $8,076,000 after acquiring an additional 410,137 shares during the last quarter. Cetera Investment Advisers boosted its holdings in PIMCO High Income Fund by 35.8% during the fourth quarter. Cetera Investment Advisers now owns 880,845 shares of the investment management company’s stock valued at $4,281,000 after acquiring an additional 232,198 shares during the period. Finally, Elm3 Financial Group LLC bought a new stake in PIMCO High Income Fund during the fourth quarter valued at about $1,016,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.