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

PIMCO High Income Fund (NYSE:PHK) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 324,145 shares, a growth of 281.0% from the September 30th total of 85,073 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 1,553,089 shares, the short-interest ratio is presently 0.2 days.

PIMCO High Income Fund Trading Up 1.1%

NYSE:PHK traded up $0.04 during mid-day trading on Thursday, hitting $4.12. The stock had a trading volume of 933,169 shares, compared to its average volume of 900,163. The company’s 50 day simple moving average is $4.27 and its 200 day simple moving average is $4.59. PIMCO High Income Fund has a twelve month low of $4.01 and a twelve month high of $5.00.

PIMCO High Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be given a $0.0480 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date is Tuesday, October 13th.

Insider Buying and Selling at PIMCO High Income Fund

In other PIMCO High Income Fund news, Director David C. Flattum purchased 60,204 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was bought at an average cost of $4.14 per share, with a total value of $249,244.56. Following the purchase, the director directly owned 60,204 shares of the company’s stock, valued at $249,244.56. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On PIMCO High Income Fund

Several large investors have recently modified their holdings of PHK. RFG Advisory LLC purchased a new stake in PIMCO High Income Fund in the second quarter worth about $1,821,000. Shaker Financial Services LLC lifted its holdings in shares of PIMCO High Income Fund by 158.3% in the 3rd quarter. Shaker Financial Services LLC now owns 516,772 shares of the investment management company’s stock valued at $2,119,000 after acquiring an additional 316,668 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of PIMCO High Income Fund in the 3rd quarter worth $627,000. Western Wealth Management LLC purchased a new stake in shares of PIMCO High Income Fund during the 1st quarter worth $501,000. Finally, Park Avenue Securities LLC boosted its position in shares of PIMCO High Income Fund by 19.6% in the 3rd quarter. Park Avenue Securities LLC now owns 424,424 shares of the investment management company’s stock worth $1,740,000 after purchasing an additional 69,554 shares in the last quarter. Institutional investors own 11.75% of the company’s stock.

About PIMCO High Income Fund

PIMCO High Income Fund (NYSE: PHK) is a closed-end investment fund managed by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

PHK invests primarily in income-producing securities, including high-yield corporate bonds and other debt instruments. Its portfolio may include securities issued by companies and governments in the United States and other countries, giving the fund exposure to a range of credit markets and geographic regions.

PIMCO, a global investment management firm, oversees the fund’s portfolio management and investment strategy.