PIMCO High Income Fund (NYSE:PHK) Sees Significant Increase in Short Interest

PIMCO High Income Fund (NYSE:PHK) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 204,800 shares, an increase of 170.9% from the September 30th total of 75,600 shares. Based on an average daily volume of 568,700 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC bought a new position in shares of PIMCO High Income Fund during the 3rd quarter worth about $59,000. PFG Investments LLC raised its holdings in PIMCO High Income Fund by 3.8% in the 3rd quarter. PFG Investments LLC now owns 63,369 shares of the investment management company’s stock valued at $317,000 after acquiring an additional 2,310 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of PIMCO High Income Fund by 400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 53,500 shares of the investment management company’s stock worth $268,000 after acquiring an additional 42,800 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of PIMCO High Income Fund during the 3rd quarter worth approximately $65,000. Finally, E&G Advisors LP bought a new stake in shares of PIMCO High Income Fund during the third quarter valued at approximately $54,000. 11.75% of the stock is owned by institutional investors.

PIMCO High Income Fund Price Performance

PHK stock remained flat at $5.07 during mid-day trading on Monday. 476,813 shares of the company’s stock were exchanged, compared to its average volume of 515,672. The stock has a 50 day simple moving average of $4.97 and a 200-day simple moving average of $4.86. PIMCO High Income Fund has a one year low of $4.21 and a one year high of $5.18.

PIMCO High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a dividend of $0.048 per share. The ex-dividend date is Friday, October 11th. This represents a $0.58 annualized dividend and a yield of 11.36%.

PIMCO High Income Fund Company Profile

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.