PIMCO High Income Fund (NYSE:PHK) Sees Significant Decline in Short Interest

PIMCO High Income Fund (NYSE:PHK – Get Rating) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 50,400 shares, a drop of 38.3% from the April 30th total of 81,700 shares. Based on an average daily trading volume, of 366,000 shares, the short-interest ratio is presently 0.1 days.

PIMCO High Income Fund Price Performance

PIMCO High Income Fund stock opened at $4.64 on Friday. The company has a fifty day simple moving average of $4.75 and a 200-day simple moving average of $4.89. PIMCO High Income Fund has a 12-month low of $4.50 and a 12-month high of $5.86.

PIMCO High Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 11th will be given a dividend of $0.048 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $0.58 annualized dividend and a dividend yield of 12.41%.

Institutional Investors Weigh In On PIMCO High Income Fund

Several institutional investors have recently modified their holdings of PHK. Raymond James & Associates lifted its position in shares of PIMCO High Income Fund by 46.7% during the 1st quarter. Raymond James & Associates now owns 49,090 shares of the investment management company’s stock worth $284,000 after purchasing an additional 15,634 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of PIMCO High Income Fund by 3.3% during the 1st quarter. Penserra Capital Management LLC now owns 1,402,698 shares of the investment management company’s stock worth $8,107,000 after purchasing an additional 45,262 shares during the last quarter. UBS Group AG lifted its position in shares of PIMCO High Income Fund by 5.4% during the 1st quarter. UBS Group AG now owns 234,965 shares of the investment management company’s stock worth $1,358,000 after purchasing an additional 12,113 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in PIMCO High Income Fund during the 1st quarter worth $433,000. Finally, Vident Investment Advisory LLC raised its stake in PIMCO High Income Fund by 25.1% during the 1st quarter. Vident Investment Advisory LLC now owns 620,994 shares of the investment management company’s stock worth $3,589,000 after acquiring an additional 124,761 shares in the last quarter. 9.80% of the stock is owned by hedge funds and other institutional investors.

About PIMCO High Income Fund

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PIMCO High Income Fund is a closed-end management investment company. It seeks high current income, with capital appreciation as a secondary objective. The company was founded on February 18, 2003 and is headquartered in New York, NY.