PIMCO High Income Fund (NYSE:PHK) Reaches New 12-Month Low – What’s Next?

PIMCO High Income Fund (NYSE:PHK) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.06 and last traded at $4.1150, with a volume of 2276003 shares traded. The stock had previously closed at $4.15.

PIMCO High Income Fund Stock Performance

The company’s 50-day moving average price is $4.52 and its 200 day moving average price is $4.58.

PIMCO High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be paid a $0.0480 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 13.9%. The ex-dividend date is Friday, September 11th.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of PIMCO High Income Fund during the second quarter worth about $128,000. RFG Advisory LLC purchased a new position in PIMCO High Income Fund in the 2nd quarter worth approximately $1,821,000. Baird Financial Group Inc. boosted its stake in PIMCO High Income Fund by 3.5% in the 2nd quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company’s stock worth $832,000 after purchasing an additional 6,021 shares during the period. Highland Investment Advisors LLC bought a new position in PIMCO High Income Fund in the 2nd quarter worth approximately $47,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in PIMCO High Income Fund during the 2nd quarter valued at approximately $50,000. 11.75% of the stock is owned by institutional investors.

About PIMCO High Income Fund

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.