PIMCO High Income Fund (NYSE:PHK) Sees Large Decline in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 90,500 shares, a decrease of 18.2% from the August 15th total of 110,600 shares. Based on an average daily volume of 533,200 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of institutional investors have recently added to or reduced their stakes in PHK. Charles Schwab Investment Advisory Inc. bought a new stake in shares of PIMCO High Income Fund in the 1st quarter worth $50,000. Brookstone Capital Management acquired a new position in PIMCO High Income Fund during the second quarter worth about $53,000. Private Advisor Group LLC raised its position in PIMCO High Income Fund by 21.0% in the fourth quarter. Private Advisor Group LLC now owns 13,675 shares of the investment management company’s stock worth $68,000 after acquiring an additional 2,373 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in PIMCO High Income Fund by 21.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 14,051 shares of the investment management company’s stock valued at $69,000 after acquiring an additional 2,500 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of PIMCO High Income Fund in the 1st quarter worth approximately $79,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

PIMCO High Income Fund Trading Up 0.2 %

Shares of PHK opened at $4.93 on Tuesday. The firm has a 50-day moving average price of $4.83 and a 200 day moving average price of $4.84. PIMCO High Income Fund has a 52-week low of $4.13 and a 52-week high of $5.04.

PIMCO High Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.048 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.70%.

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.