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

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

Institutional Investors Weigh In On PIMCO High Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Western Wealth Management LLC purchased a new position in shares of PIMCO High Income Fund in the 1st quarter worth $501,000. Cetera Investment Advisers increased its position in PIMCO High Income Fund by 6.9% during the first quarter. Cetera Investment Advisers now owns 941,248 shares of the investment management company’s stock valued at $4,358,000 after acquiring an additional 60,403 shares during the last quarter. Independent Financial Group LLC bought a new position in PIMCO High Income Fund in the first quarter valued at about $141,000. Integrity Alliance LLC. lifted its holdings in PIMCO High Income Fund by 43.2% in the fourth quarter. Integrity Alliance LLC. now owns 25,565 shares of the investment management company’s stock valued at $124,000 after acquiring an additional 7,707 shares during the period. Finally, Indivisible Partners purchased a new position in PIMCO High Income Fund in the fourth quarter worth about $300,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Price Performance

NYSE PHK traded up $0.01 during trading hours on Friday, hitting $4.66. The company’s stock had a trading volume of 350,844 shares, compared to its average volume of 796,973. PIMCO High Income Fund has a 12 month low of $4.41 and a 12 month high of $5.04. The company’s 50 day simple moving average is $4.60 and its two-hundred day simple moving average is $4.70.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be paid a $0.048 dividend. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%.

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.