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

Shares of PCM Fund Inc. (NYSE:PCM) 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 traded.

PCM Fund Stock Performance

The stock has a 50 day moving average price of $6.63 and a 200 day moving average price of $7.43.

PCM Fund Announces Dividend

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

Hedge Funds Weigh In On PCM Fund

A number of hedge funds have recently modified their holdings of the business. Horizon Kinetics Asset Management LLC lifted its holdings 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 worth $322,000 after buying an additional 15,720 shares during the period. Raymond James Financial Inc. bought a new stake in PCM Fund in the fourth quarter valued at approximately $137,000. Two Sigma Securities LLC bought a new stake in PCM Fund in the fourth quarter valued at approximately $152,000. Financial Advocates Investment Management increased its position in PCM Fund by 10.8% during 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. Finally, Sovran Advisors LLC bought a new position in PCM Fund during the 4th quarter worth approximately $443,000. Institutional investors and hedge funds 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.