Pcm Fund (NYSE:PCM) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Pcm Fund (NYSE:PCM)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.07 and traded as high as $6.08. Pcm Fund shares last traded at $6.0650, with a volume of 38,101 shares.

Pcm Fund Price Performance

The stock has a fifty day moving average price of $6.07 and a two-hundred day moving average price of $6.27.

Pcm Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 12th will be issued a $0.0642 dividend. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date is Thursday, February 12th.

Hedge Funds Weigh In On Pcm Fund

A number of institutional investors have recently modified their holdings of PCM. Rivernorth Capital Management LLC acquired a new stake in Pcm Fund during the fourth quarter worth approximately $1,849,000. Guggenheim Capital LLC boosted its holdings in shares of Pcm Fund by 33.4% during the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company’s stock worth $1,779,000 after purchasing an additional 72,482 shares during the last quarter. LPL Financial LLC grew its position in shares of Pcm Fund by 6.7% in the fourth quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock valued at $1,894,000 after purchasing an additional 19,364 shares during the period. Scotia Capital Inc. purchased a new stake in shares of Pcm Fund in the third quarter valued at $92,000. Finally, Kestra Advisory Services LLC increased its stake in Pcm Fund by 65.2% in the fourth quarter. Kestra Advisory Services LLC now owns 34,637 shares of the investment management company’s stock valued at $213,000 after purchasing an additional 13,667 shares during the last quarter. Institutional investors and hedge funds own 10.26% of the company’s stock.

About Pcm Fund

PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.