PCM Fund (NYSE:PCM) Shares Cross Below 200-Day Moving Average – Should You Sell?

PCM Fund Inc. (NYSE:PCM) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.45 and traded as low as $6.50. PCM Fund shares last traded at $6.50, with a volume of 35,174 shares changing hands.

PCM Fund Price Performance

The company has a 50-day moving average price of $6.63 and a two-hundred day moving average price of $7.43.

PCM Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a dividend of $0.0642 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 11.91%.

Institutional Investors Weigh In On PCM Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sovran Advisors LLC bought a new stake in PCM Fund in the 4th quarter valued at about $443,000. Financial Advocates Investment Management grew its position in PCM Fund by 10.8% in the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock valued at $1,662,000 after purchasing an additional 20,950 shares during the period. Horizon Kinetics Asset Management LLC increased its stake in PCM Fund by 64.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company’s stock valued at $322,000 after purchasing an additional 15,720 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of PCM Fund in the fourth quarter valued at $137,000. Finally, Two Sigma Securities LLC bought a new stake in shares of PCM Fund during the fourth quarter worth about $152,000. 10.26% of the stock is owned by institutional investors.

About PCM Fund

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.