PIMCO Access Income Fund (NYSE:PAXS) Short Interest Update

PIMCO Access Income Fund (NYSE:PAXS) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 19,800 shares, a drop of 58.0% from the February 28th total of 47,100 shares. Based on an average daily volume of 257,500 shares, the days-to-cover ratio is presently 0.1 days.

PIMCO Access Income Fund Stock Down 0.8 %

PAXS stock traded down $0.14 during midday trading on Friday, hitting $16.01. The stock had a trading volume of 169,754 shares, compared to its average volume of 198,843. The stock has a 50-day simple moving average of $16.05 and a 200 day simple moving average of $16.12. PIMCO Access Income Fund has a 52 week low of $14.55 and a 52 week high of $17.24.

PIMCO Access Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a $0.1494 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.79 dividend on an annualized basis and a yield of 11.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Novem Group acquired a new position in shares of PIMCO Access Income Fund in the 4th quarter worth approximately $317,000. Cetera Investment Advisers bought a new stake in PIMCO Access Income Fund in the fourth quarter valued at $237,000. Bank of America Corp DE raised its stake in PIMCO Access Income Fund by 17.2% during the fourth quarter. Bank of America Corp DE now owns 292,514 shares of the company’s stock worth $4,461,000 after acquiring an additional 42,838 shares in the last quarter. Comerica Bank lifted its holdings in shares of PIMCO Access Income Fund by 22.1% during the fourth quarter. Comerica Bank now owns 25,591 shares of the company’s stock valued at $390,000 after acquiring an additional 4,630 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of PIMCO Access Income Fund by 23.3% in the 4th quarter. Stifel Financial Corp now owns 34,901 shares of the company’s stock valued at $532,000 after purchasing an additional 6,600 shares in the last quarter.

About PIMCO Access Income Fund

PIMCO Access Income Fund is close-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. It invests in fixed income markets of global region. The fund primarily invests in corporate debt, mortgage-related and other asset-backed instruments, government and sovereign debt, taxable municipal bonds, floating-rate income-producing securities with varying maturities.