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

PIMCO High Income Fund (NYSE:PHK) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 822,828 shares, a decrease of 52.6% from the August 15th total of 1,737,699 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 775,760 shares, the days-to-cover ratio is currently 1.1 days.

PIMCO High Income Fund Stock Performance

Shares of PHK stock traded up $0.01 during midday trading on Wednesday, hitting $4.30. 1,156,146 shares of the company were exchanged, compared to its average volume of 812,384. The firm’s 50 day moving average price is $4.59 and its two-hundred day moving average price is $4.62. PIMCO High Income Fund has a 52 week low of $4.27 and a 52 week high of $5.00.

PIMCO High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.048 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date is Friday, September 11th.

Hedge Funds Weigh In On PIMCO High Income Fund

Large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in PIMCO High Income Fund in the 2nd quarter valued at $128,000. RFG Advisory LLC bought a new position in PIMCO High Income Fund during the 2nd quarter worth $1,821,000. Baird Financial Group Inc. lifted its holdings in shares of PIMCO High Income Fund by 3.5% during the second quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company’s stock worth $832,000 after buying an additional 6,021 shares in the last quarter. Highland Investment Advisors LLC bought a new stake in shares of PIMCO High Income Fund in the second quarter valued at about $47,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of PIMCO High Income Fund in the second quarter valued at about $50,000. Institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company advised 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.

The fund invests primarily in a diversified portfolio of income-producing debt securities. These investments may include below-investment-grade corporate bonds, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments issued by companies and governments in the United States and international markets.