Short Interest in PIMCO High Income Fund (NYSE:PHK) Rises By 44.5%

PIMCO High Income Fund (NYSE:PHK) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 654,600 shares, a growth of 44.5% from the September 30th total of 452,900 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 629,800 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 629,800 shares, the short-interest ratio is currently 1.0 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC bought a new position in shares of PIMCO High Income Fund in the second quarter worth approximately $1,798,000. Future Financial Wealth Managment LLC lifted its position in PIMCO High Income Fund by 1,231.0% during the second 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 during the last quarter. Presper Financial Architects LLC bought a new stake in PIMCO High Income Fund during the second quarter valued at approximately $539,000. Envestnet Asset Management Inc. lifted its position in PIMCO High Income Fund by 12.7% during the first quarter. Envestnet Asset Management Inc. now owns 877,732 shares of the investment management company’s stock valued at $4,292,000 after purchasing an additional 98,600 shares during the last quarter. Finally, Readystate Asset Management LP lifted its position in PIMCO High Income Fund by 155.8% during the first quarter. Readystate Asset Management LP now owns 140,693 shares of the investment management company’s stock valued at $688,000 after purchasing an additional 85,696 shares during the last quarter. 11.75% of the stock is owned by hedge funds and other institutional investors.

PIMCO High Income Fund Price Performance

Shares of PIMCO High Income Fund stock opened at $4.85 on Wednesday. PIMCO High Income Fund has a 12-month low of $4.18 and a 12-month high of $5.10. The company’s 50-day moving average price is $4.92 and its 200-day moving average price is $4.84.

PIMCO High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.048 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Friday, November 14th.

About PIMCO High Income Fund

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.