PIMCO High Income Fund (NYSE:PHK) Sees Significant Growth in Short Interest
by Sarita Garza · The Markets DailyPIMCO High Income Fund (NYSE:PHK – Get Free Report) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 759,122 shares, a growth of 81.6% from the December 31st total of 418,016 shares. Based on an average daily trading volume, of 814,976 shares, the short-interest ratio is presently 0.9 days. Currently, 0.4% of the shares of the company are sold short. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 814,976 shares, the short-interest ratio is presently 0.9 days.
Hedge Funds Weigh In On PIMCO High Income Fund
Several institutional investors have recently bought and sold shares of the company. GraniteShares Advisors LLC acquired a new stake in shares of PIMCO High Income Fund in the 4th quarter worth $2,734,000. Elm3 Financial Group LLC purchased a new position in PIMCO High Income Fund during the fourth quarter worth about $1,016,000. UBS Group AG lifted its position in PIMCO High Income Fund by 11.2% in the fourth quarter. UBS Group AG now owns 1,289,048 shares of the investment management company’s stock valued at $6,265,000 after purchasing an additional 130,086 shares during the period. Future Financial Wealth Managment LLC boosted its holdings in PIMCO High Income Fund by 1,231.0% in the 2nd quarter. Future Financial Wealth Managment LLC now owns 133,102 shares of the investment management company’s stock valued at $639,000 after purchasing an additional 123,102 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in PIMCO High Income Fund by 23.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 430,521 shares of the investment management company’s stock worth $2,067,000 after purchasing an additional 80,433 shares during the period. 11.75% of the stock is owned by institutional investors and hedge funds.
PIMCO High Income Fund Stock Performance
PHK stock traded up $0.01 during trading on Friday, hitting $4.96. The company had a trading volume of 592,267 shares, compared to its average volume of 770,331. The firm has a 50-day moving average price of $4.89 and a 200-day moving average price of $4.89. PIMCO High Income Fund has a 1-year low of $4.18 and a 1-year high of $5.04.
PIMCO High Income Fund Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Tuesday, January 13th will be paid a dividend of $0.048 per share. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Tuesday, January 13th.
PIMCO High Income Fund Company Profile
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.