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

PIMCO High Income Fund (NYSE:PHK) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 85,700 shares, an increase of 107.5% from the February 13th total of 41,300 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 696,700 shares, the days-to-cover ratio is presently 0.1 days.

PIMCO High Income Fund Stock Down 0.1 %

Shares of NYSE:PHK opened at $4.87 on Friday. The firm’s 50 day simple moving average is $4.91 and its 200-day simple moving average is $4.96. PIMCO High Income Fund has a one year low of $4.59 and a one year high of $5.18.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.84%. The ex-dividend date is Thursday, March 13th.

Hedge Funds Weigh In On PIMCO High Income Fund

Several institutional investors have recently bought and sold shares of PHK. LPL Financial LLC increased its holdings in PIMCO High Income Fund by 54.3% during the fourth quarter. LPL Financial LLC now owns 1,624,495 shares of the investment management company’s stock valued at $7,895,000 after buying an additional 571,384 shares during the period. Guggenheim Capital LLC increased its holdings in PIMCO High Income Fund by 84.1% during the fourth quarter. Guggenheim Capital LLC now owns 815,826 shares of the investment management company’s stock valued at $3,965,000 after buying an additional 372,623 shares during the period. Noble Wealth Management PBC purchased a new position in PIMCO High Income Fund during the fourth quarter valued at approximately $1,554,000. Rivernorth Capital Management LLC increased its holdings in PIMCO High Income Fund by 6.5% during the third quarter. Rivernorth Capital Management LLC now owns 4,939,765 shares of the investment management company’s stock valued at $24,699,000 after buying an additional 301,706 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in PIMCO High Income Fund during the third quarter valued at approximately $1,419,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

About PIMCO High Income Fund

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.