PIMCO High Income Fund (NYSE:PHK) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of PIMCO High Income Fund (NYSE:PHK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.90 and traded as high as $4.94. PIMCO High Income Fund shares last traded at $4.9350, with a volume of 632,700 shares.

PIMCO High Income Fund Stock Performance

The business’s 50 day simple moving average is $4.90 and its 200-day simple moving average is $4.90.

PIMCO High Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 12th will be issued a $0.048 dividend. This represents a c) dividend on an annualized basis and a yield of 11.7%. The ex-dividend date of this dividend is Thursday, February 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PHK. Cetera Investment Advisers raised its stake in shares of PIMCO High Income Fund by 35.8% during the fourth quarter. Cetera Investment Advisers now owns 880,845 shares of the investment management company’s stock valued at $4,281,000 after purchasing an additional 232,198 shares in the last quarter. Osaic Holdings Inc. increased its stake in PIMCO High Income Fund by 32.8% during 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 buying an additional 410,137 shares during the period. Royal Bank of Canada increased its stake in PIMCO High Income Fund by 4.2% during the 4th quarter. Royal Bank of Canada now owns 149,644 shares of the investment management company’s stock valued at $727,000 after buying an additional 6,043 shares during the period. MML Investors Services LLC raised its position in shares of PIMCO High Income Fund by 7.9% during the 4th quarter. MML Investors Services LLC now owns 82,080 shares of the investment management company’s stock worth $399,000 after buying an additional 6,000 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in shares of PIMCO High Income Fund by 19.3% in the 4th quarter. Kestra Advisory Services LLC now owns 395,817 shares of the investment management company’s stock worth $1,924,000 after acquiring an additional 63,905 shares during the period. Institutional investors own 11.75% of the company’s stock.

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.