Short Interest in PIMCO High Income Fund (NYSE:PHK) Declines By 36.1%
by Michael Walen · The Markets DailyPIMCO High Income Fund (NYSE:PHK – Get Free Report) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 529,403 shares, a decrease of 36.1% from the February 12th total of 828,533 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 606,141 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 606,141 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.3% of the company’s stock are short sold.
Hedge Funds Weigh In On PIMCO High Income Fund
A number of hedge funds have recently bought and sold shares of PHK. Orion Porfolio Solutions LLC increased its holdings in PIMCO High Income Fund by 145.3% in the fourth quarter. Orion Porfolio Solutions LLC now owns 1,158,205 shares of the investment management company’s stock valued at $5,629,000 after buying an additional 686,037 shares during the last quarter. GraniteShares Advisors LLC acquired a new position in shares of PIMCO High Income Fund in the 4th quarter worth approximately $2,734,000. Osaic Holdings Inc. increased its holdings in shares of PIMCO High Income Fund by 32.8% in the 4th quarter. Osaic Holdings Inc. now owns 1,661,772 shares of the investment management company’s stock valued at $8,076,000 after acquiring an additional 410,137 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of PIMCO High Income Fund by 35.8% in the 4th quarter. Cetera Investment Advisers now owns 880,845 shares of the investment management company’s stock valued at $4,281,000 after acquiring an additional 232,198 shares during the last quarter. Finally, Elm3 Financial Group LLC acquired a new stake in shares of PIMCO High Income Fund during the 4th quarter valued at approximately $1,016,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.
PIMCO High Income Fund Stock Down 3.5%
Shares of NYSE:PHK traded down $0.17 during midday trading on Friday, reaching $4.54. The company had a trading volume of 2,701,491 shares, compared to its average volume of 694,924. The stock’s fifty day moving average price is $4.91 and its 200-day moving average price is $4.89. PIMCO High Income Fund has a one year low of $4.18 and a one year high of $5.04.
PIMCO High Income Fund Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Thursday, March 12th will be paid a $0.048 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Thursday, March 12th.
About PIMCO High Income Fund
The PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.
PHK’s investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.