PCM Fund Inc. (NYSE:PCM) Short Interest Update

PCM Fund Inc. (NYSE:PCM) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 8,400 shares, a drop of 57.1% from the October 31st total of 19,600 shares. Based on an average daily trading volume, of 44,000 shares, the short-interest ratio is currently 0.2 days.

PCM Fund Stock Up 0.3 %

Shares of PCM stock traded up $0.02 during midday trading on Thursday, reaching $8.02. 16,314 shares of the company were exchanged, compared to its average volume of 43,800. The company’s 50 day moving average price is $8.04 and its two-hundred day moving average price is $7.93. PCM Fund has a 12 month low of $7.26 and a 12 month high of $9.15.

PCM Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.96 annualized dividend and a yield of 11.97%.

Institutional Investors Weigh In On PCM Fund

A hedge fund recently raised its stake in PCM Fund stock. Horizon Kinetics Asset Management LLC lifted its position in PCM Fund Inc. (NYSE:PCM) by 64.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,252 shares of the investment management company’s stock after buying an additional 15,720 shares during the period. Horizon Kinetics Asset Management LLC owned approximately 0.34% of PCM Fund worth $322,000 at the end of the most recent reporting period. 10.26% of the stock is owned by hedge funds and other 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.