PIMCO Dynamic Income Fund (NYSE:PDI) Stock Short Interest Drops 72.0%

PIMCO Dynamic Income Fund (NYSE:PDI) saw a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 293,593 shares, a decrease of 72.0% from the October 15th total of 1,048,214 shares. Based on an average daily trading volume, of 2,751,420 shares, the days-to-cover ratio is presently 0.1 days.

Insider Activity

In related news, Director David C. Flattum acquired 17,448 shares of the stock in a transaction dated Tuesday, October 6th. The stock was bought at an average price of $14.30 per share, with a total value of $249,506.40. Following the completion of the transaction, the director directly owned 17,448 shares of the company’s stock, valued at approximately $249,506.40. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sonya Morris bought 5,700 shares of the stock in a transaction on Friday, October 23rd. The shares were purchased at an average price of $14.32 per share, with a total value of $81,624.00. Following the acquisition, the director owned 11,400 shares in the company, valued at approximately $163,248. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 34,348 shares of company stock worth $486,724 over the last quarter.

Institutional Trading of PIMCO Dynamic Income Fund

A number of large investors have recently added to or reduced their stakes in the company. Mosaic Family Wealth Partners LLC acquired a new position in PIMCO Dynamic Income Fund during the third quarter worth approximately $329,000. Advisors Asset Management Inc. bought a new stake in PIMCO Dynamic Income Fund in the third quarter valued at approximately $140,000. Beta Wealth Group Inc. raised its stake in PIMCO Dynamic Income Fund by 16.7% in the third quarter. Beta Wealth Group Inc. now owns 261,580 shares of the company’s stock valued at $3,670,000 after buying an additional 37,393 shares during the period. Private Advisor Group LLC raised its stake in PIMCO Dynamic Income Fund by 10.4% in the third quarter. Private Advisor Group LLC now owns 787,517 shares of the company’s stock valued at $11,049,000 after buying an additional 74,148 shares during the period. Finally, Ieq Capital LLC lifted its position in shares of PIMCO Dynamic Income Fund by 2.9% in the third quarter. Ieq Capital LLC now owns 48,208 shares of the company’s stock valued at $676,000 after buying an additional 1,368 shares during the last quarter.

PIMCO Dynamic Income Fund Trading Down 0.9%

Shares of NYSE PDI traded down $0.12 during trading hours on Friday, hitting $14.22. The company had a trading volume of 3,546,874 shares, compared to its average volume of 3,143,497. PIMCO Dynamic Income Fund has a 1-year low of $13.73 and a 1-year high of $19.00. The firm’s 50 day moving average is $14.41 and its 200-day moving average is $16.33.

PIMCO Dynamic Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.2205 per share. This represents a $2.65 annualized dividend and a yield of 18.6%. The ex-dividend date of this dividend is Friday, November 13th.

About PIMCO Dynamic Income Fund

PIMCO Dynamic Income Fund (NYSE: PDI) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide current income as its primary objective and capital appreciation as a secondary objective. PDI invests in a diversified portfolio of income-generating securities across global fixed-income markets. Its investments may include corporate debt, high-yield bonds, emerging-market securities, mortgage-related instruments, asset-backed securities, and other debt obligations.