PCM Fund Inc. (NYSE:PCM) Short Interest Down 21.4% in December

PCM Fund Inc. (NYSE:PCM) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 27,200 shares, a drop of 21.4% from the December 15th total of 34,600 shares. Based on an average daily trading volume, of 52,300 shares, the short-interest ratio is presently 0.5 days.

PCM Fund Stock Down 0.1 %

Shares of PCM Fund stock traded down $0.01 during trading on Friday, reaching $6.71. The company’s stock had a trading volume of 59,241 shares, compared to its average volume of 137,486. PCM Fund has a 1-year low of $6.50 and a 1-year high of $9.15. The company has a 50-day simple moving average of $7.70 and a two-hundred day simple moving average of $7.78.

PCM Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be issued a $0.0642 dividend. This represents a $0.77 annualized dividend and a yield of 11.50%. The ex-dividend date is Monday, January 13th.

Institutional Investors Weigh In On PCM Fund

An institutional investor recently raised its position in PCM Fund stock. Financial Advocates Investment Management boosted its stake in shares of PCM Fund Inc. (NYSE:PCM) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,870 shares of the investment management company’s stock after purchasing an additional 13,973 shares during the period. Financial Advocates Investment Management owned approximately 1.62% of PCM Fund worth $1,557,000 at the end of the most recent reporting period. 10.26% of the stock is currently owned by institutional investors.

PCM Fund Company Profile

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.