PCM Fund (NYSE:PCM) Stock Crosses Below Two Hundred Day Moving Average of $8.24

PCM Fund Inc. (NYSE:PCMGet Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.24 and traded as low as $7.73. PCM Fund shares last traded at $7.78, with a volume of 44,967 shares.

PCM Fund Stock Performance

The company has a 50 day simple moving average of $8.22 and a 200 day simple moving average of $8.24.

PCM Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 11th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 12.34%. The ex-dividend date of this dividend is Thursday, July 11th.

Institutional Trading of PCM Fund

Several hedge funds and other institutional investors have recently made changes to their positions in PCM. Concord Investment Counsel Inc. bought a new stake in shares of PCM Fund during the first quarter worth about $1,121,000. Foundations Investment Advisors LLC grew its holdings in shares of PCM Fund by 18.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 364,632 shares of the investment management company’s stock worth $2,943,000 after purchasing an additional 55,772 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of PCM Fund by 19.7% during the fourth quarter. Financial Advocates Investment Management now owns 152,553 shares of the investment management company’s stock worth $1,214,000 after purchasing an additional 25,109 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of PCM Fund during the fourth quarter worth about $84,000. 10.26% of the stock is currently owned by institutional investors.

PCM Fund Company Profile

(Get Free Report)

PCM Fund Inc is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.

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