PCM Fund Inc. (NYSE:PCM) Short Interest Down 19.7% in May

PCM Fund Inc. (NYSE:PCM) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 84,300 shares, a drop of 19.7% from the May 15th total of 105,000 shares. Based on an average daily volume of 46,200 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Trading of PCM Fund

A number of institutional investors have recently modified their holdings of the stock. Concord Investment Counsel Inc. acquired a new stake in shares of PCM Fund in the 1st quarter valued at $1,121,000. Foundations Investment Advisors LLC increased its position in PCM Fund by 18.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 364,632 shares of the investment management company’s stock worth $2,943,000 after purchasing an additional 55,772 shares in the last quarter. Financial Advocates Investment Management lifted its stake in PCM Fund by 19.7% in the 4th quarter. Financial Advocates Investment Management now owns 152,553 shares of the investment management company’s stock valued at $1,214,000 after purchasing an additional 25,109 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in PCM Fund in the fourth quarter valued at approximately $84,000. 10.26% of the stock is currently owned by institutional investors.

PCM Fund Stock Up 0.1 %

PCM Fund stock traded up $0.01 during midday trading on Friday, reaching $7.81. The stock had a trading volume of 33,445 shares, compared to its average volume of 81,861. PCM Fund has a 1-year low of $6.88 and a 1-year high of $10.20. The firm’s fifty day simple moving average is $8.50 and its 200-day simple moving average is $8.28.

PCM Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, June 13th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 12.29%. The ex-dividend date is Thursday, June 13th.

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.