PIMCO High Income Fund (NYSE:PHK) Sees Large Growth in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 310,267 shares, a growth of 17.6% from the March 31st total of 263,892 shares. Based on an average daily trading volume, of 754,760 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company’s shares are sold short.

PIMCO High Income Fund Price Performance

Shares of PHK traded up $0.05 during mid-day trading on Friday, hitting $4.73. 1,190,831 shares of the company’s stock traded hands, compared to its average volume of 556,097. PIMCO High Income Fund has a 1 year low of $4.41 and a 1 year high of $5.04. The business’s 50-day moving average price is $4.70 and its 200-day moving average price is $4.82.

PIMCO High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 1st. Investors of record on Monday, April 13th were given a dividend of $0.048 per share. The ex-dividend date was Monday, April 13th. This represents a c) annualized dividend and a dividend yield of 12.2%.

Institutional Investors Weigh In On PIMCO High Income Fund

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC boosted its position in shares of PIMCO High Income Fund by 2.5% during the fourth quarter. LPL Financial LLC now owns 1,937,118 shares of the investment management company’s stock valued at $9,414,000 after purchasing an additional 47,241 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of PIMCO High Income Fund by 32.8% during the fourth quarter. Osaic Holdings Inc. now owns 1,661,772 shares of the investment management company’s stock valued at $8,076,000 after purchasing an additional 410,137 shares in the last quarter. UBS Group AG boosted its position in shares of PIMCO High Income Fund by 11.2% during the fourth quarter. UBS Group AG now owns 1,289,048 shares of the investment management company’s stock valued at $6,265,000 after purchasing an additional 130,086 shares in the last quarter. Invesco Ltd. boosted its position in shares of PIMCO High Income Fund by 4.3% during 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 in the last quarter. Finally, Orion Porfolio Solutions LLC boosted its position in shares of PIMCO High Income Fund by 145.3% during the fourth quarter. Orion Porfolio Solutions LLC now owns 1,158,205 shares of the investment management company’s stock valued at $5,629,000 after purchasing an additional 686,037 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors.

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.