Pcm Fund (NYSE:PCM) Sees Significant Growth in Short Interest

Pcm Fund (NYSE:PCM) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 77,689 shares, an increase of 62.4% from the July 30th total of 47,824 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 54,846 shares, the days-to-cover ratio is currently 1.4 days.

Pcm Fund Price Performance

Shares of PCM stock traded down $0.05 during trading hours on Monday, reaching $5.35. 164,454 shares of the company’s stock were exchanged, compared to its average volume of 49,511. Pcm Fund has a 1 year low of $5.29 and a 1 year high of $6.76. The stock’s fifty day moving average price is $5.61 and its two-hundred day moving average price is $5.72.

Pcm Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Thursday, August 13th will be given a dividend of $0.0642 per share. This represents a c) annualized dividend and a yield of 14.4%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. StoneX Group Inc. acquired a new stake in shares of Pcm Fund during the fourth quarter worth $68,000. Everett Harris & Co. CA acquired a new position in shares of Pcm Fund in the 4th quarter valued at $80,000. Integrity Advisory Solutions LLC acquired a new position in shares of Pcm Fund in the 4th quarter valued at $83,000. Scotia Capital Inc. purchased a new position in Pcm Fund in the 3rd quarter worth $92,000. Finally, Kestra Advisory Services LLC raised its stake in Pcm Fund by 65.2% in the 4th quarter. Kestra Advisory Services LLC now owns 34,637 shares of the investment management company’s stock worth $213,000 after acquiring an additional 13,667 shares during the last quarter. Institutional investors and hedge funds own 10.26% of the company’s stock.

About Pcm Fund

PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.