PCM Fund Inc. (NYSE:PCM) Sees Large Decrease in Short Interest

Posted by Cynthia Vaughn on Jan 15th, 2025

PCM Fund Inc. (NYSE:PCM – Get Free Report) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 27,200 shares, a decline of 21.4% from the December 15th total of 34,600 shares. Based on an average daily trading volume, of 52,300 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On PCM Fund

A hedge fund recently raised its stake in PCM Fund stock. Financial Advocates Investment Management grew its holdings in shares of PCM Fund Inc. (NYSE:PCM – Free Report) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,870 shares of the investment management company’s stock after buying an additional 13,973 shares during the period. Financial Advocates Investment Management owned 1.62% of PCM Fund worth $1,557,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 10.26% of the company’s stock.

PCM Fund Stock Performance

PCM traded up $0.13 on Wednesday, hitting $6.67. The company had a trading volume of 38,672 shares, compared to its average volume of 154,606. The stock has a fifty day simple moving average of $7.76 and a 200-day simple moving average of $7.80. PCM Fund has a 52-week low of $6.50 and a 52-week high of $9.15.

PCM Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Monday, January 13th will be paid a $0.0642 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 11.56%. The ex-dividend date of this dividend is Monday, January 13th.

PCM Fund Company Profile

(Get Free Report)

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.