PIMCO Access Income Fund (NYSE:PAXS) Sees Large Growth in Short Interest

PIMCO Access Income Fund (NYSE:PAXS) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 64,993 shares, an increase of 60.3% from the August 31st total of 40,534 shares. Based on an average daily trading volume, of 260,617 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On PIMCO Access Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. acquired a new stake in shares of PIMCO Access Income Fund during the first quarter worth about $41,000. Focus Financial Network Inc. acquired a new stake in PIMCO Access Income Fund during the second quarter worth approximately $154,000. Baird Financial Group Inc. purchased a new stake in shares of PIMCO Access Income Fund during the 2nd quarter worth approximately $243,000. Wealth Care LLC purchased a new position in shares of PIMCO Access Income Fund in the 1st quarter valued at $362,000. Finally, Independent Financial Group LLC acquired a new stake in PIMCO Access Income Fund during the 1st quarter worth $411,000.

PIMCO Access Income Fund Price Performance

PAXS stock traded up $0.05 during midday trading on Wednesday, hitting $13.24. 320,166 shares of the company’s stock were exchanged, compared to its average volume of 222,783. The business has a 50-day simple moving average of $13.90 and a two-hundred day simple moving average of $14.20. PIMCO Access Income Fund has a 1-year low of $12.92 and a 1-year high of $16.56.

PIMCO Access Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.1494 per share. The ex-dividend date is Friday, September 11th. This represents a $1.79 dividend on an annualized basis and a dividend yield of 13.5%.

About PIMCO Access Income Fund

PIMCO Access Income Fund (NYSE:PAXS) is a closed-end management investment company advised by Pacific Investment Management Company LLC, commonly known as PIMCO. The fund seeks to provide current income while also pursuing capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of fixed-income securities and other income-producing investments. Its holdings may include corporate bonds, government and sovereign debt, mortgage- and asset-backed securities, emerging-market securities, bank loans and other credit-related instruments.