PIMCO High Income Fund (NYSE:PHK) Stock Short Interest Declines 91.6%

PIMCO High Income Fund (NYSE:PHK) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 85,073 shares, a decrease of 91.6% from the September 15th total of 1,017,455 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 1,825,832 shares, the short-interest ratio is presently 0.0 days.

PIMCO High Income Fund Price Performance

Shares of NYSE PHK traded down $0.03 during mid-day trading on Friday, hitting $4.17. 1,714,362 shares of the company were exchanged, compared to its average volume of 1,856,786. PIMCO High Income Fund has a 1-year low of $4.04 and a 1-year high of $5.00. The stock has a 50 day simple moving average of $4.42 and a 200-day simple moving average of $4.54.

PIMCO High Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be issued a dividend of $0.0480 per share. This represents a $0.58 annualized dividend and a yield of 13.8%. The ex-dividend date of this dividend is Tuesday, October 13th.

Insider Transactions at PIMCO High Income Fund

In related news, Director David C. Flattum acquired 60,204 shares of PIMCO High Income Fund stock in a transaction on Tuesday, October 6th. The stock was purchased 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 in the company, valued at approximately $249,244.56. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Integrated Capital Management Inc. lifted its holdings in shares of PIMCO High Income Fund by 26.1% in the 3rd quarter. Integrated Capital Management Inc. now owns 102,534 shares of the investment management company’s stock valued at $420,000 after buying an additional 21,234 shares during the period. Elm3 Financial Group LLC boosted its stake in shares of PIMCO High Income Fund by 3.1% in the third quarter. Elm3 Financial Group LLC now owns 272,684 shares of the investment management company’s stock valued at $1,118,000 after buying an additional 8,109 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in PIMCO High Income Fund during the second quarter worth $128,000. RFG Advisory LLC acquired a new position in PIMCO High Income Fund during the second quarter worth $1,821,000. Finally, Baird Financial Group Inc. raised its position in PIMCO High Income Fund by 3.5% in the second quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company’s stock worth $832,000 after acquiring an additional 6,021 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

About PIMCO High Income Fund

PIMCO High Income Fund (NYSE: PHK) is a closed-end fund managed by Pacific Investment Management Company LLC (PIMCO), a global investment management firm. The fund’s primary objective is to seek high current income for its shareholders, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of fixed-income securities, including corporate bonds, loans, mortgage-related instruments, government and sovereign debt, and other income-producing credit investments.