PCM Fund (NYSE:PCM) Stock Price Passes Below 200 Day Moving Average – Here’s Why

PCM Fund Inc. (NYSE:PCM)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.52 and traded as low as $6.51. PCM Fund shares last traded at $6.53, with a volume of 17,368 shares changing hands.

PCM Fund Stock Performance

The firm has a 50 day moving average price of $6.66 and a two-hundred day moving average price of $7.50.

PCM Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.0642 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.77 annualized dividend and a dividend yield of 11.90%.

Hedge Funds Weigh In On PCM Fund

Several large investors have recently modified their holdings of the stock. Financial Advocates Investment Management lifted its holdings in PCM Fund by 10.8% in the fourth quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock worth $1,662,000 after acquiring an additional 20,950 shares during the last quarter. Sovran Advisors LLC bought a new position in PCM Fund in the fourth quarter worth about $443,000. Horizon Kinetics Asset Management LLC lifted its holdings in PCM Fund by 64.1% in the third quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company’s stock worth $322,000 after acquiring an additional 15,720 shares during the last quarter. Two Sigma Securities LLC bought a new position in PCM Fund in the fourth quarter worth about $152,000. Finally, Raymond James Financial Inc. bought a new stake in shares of PCM Fund during the fourth quarter valued at approximately $137,000. Institutional investors own 10.26% of the company’s stock.

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.