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

PIMCO High Income Fund (NYSE:PHK) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.72 and traded as high as $4.74. PIMCO High Income Fund shares last traded at $4.7150, with a volume of 6,568,628 shares trading hands.

PIMCO High Income Fund Stock Performance

The company’s 50 day moving average price is $4.58 and its 200 day moving average price is $4.72.

PIMCO High Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be issued a $0.048 dividend. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a yield of 12.2%.

Hedge Funds Weigh In On PIMCO High Income Fund

Institutional investors have recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new stake in shares of PIMCO High Income Fund in the first quarter worth about $501,000. Bank of America Corp DE increased its holdings in shares of PIMCO High Income Fund by 4.0% during the 1st quarter. Bank of America Corp DE now owns 1,247,814 shares of the investment management company’s stock valued at $5,777,000 after acquiring an additional 48,233 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of PIMCO High Income Fund in the 1st quarter valued at approximately $117,000. Cetera Investment Advisers raised its stake in shares of PIMCO High Income Fund by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 941,248 shares of the investment management company’s stock valued at $4,358,000 after acquiring an additional 60,403 shares in the last quarter. Finally, Independent Financial Group LLC bought a new position in shares of PIMCO High Income Fund in the 1st quarter valued at approximately $141,000. 11.75% of the stock is currently owned by institutional investors.

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.