PIMCO Access Income Fund (NYSE:PAXS) Sees Significant Drop in Short Interest

PIMCO Access Income Fund (NYSE:PAXS) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 38,509 shares, a decline of 42.9% from the May 14th total of 67,483 shares. Based on an average daily volume of 204,858 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of PIMCO Access Income Fund

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in PIMCO Access Income Fund by 6.2% during the 1st quarter. Bank of America Corp DE now owns 421,321 shares of the company’s stock valued at $6,071,000 after purchasing an additional 24,721 shares during the period. Rivernorth Capital Management LLC purchased a new position in PIMCO Access Income Fund during the 1st quarter valued at about $1,362,000. Royal Bank of Canada increased its holdings in PIMCO Access Income Fund by 12.5% during the 1st quarter. Royal Bank of Canada now owns 1,152,845 shares of the company’s stock valued at $16,612,000 after purchasing an additional 127,806 shares during the period. Independent Financial Group LLC purchased a new position in PIMCO Access Income Fund during the 1st quarter valued at about $411,000. Finally, Corrado Advisors LLC increased its holdings in PIMCO Access Income Fund by 5.6% during the 1st quarter. Corrado Advisors LLC now owns 160,268 shares of the company’s stock valued at $2,309,000 after purchasing an additional 8,508 shares during the period.

PIMCO Access Income Fund Trading Down 0.0%

Shares of PAXS stock opened at $14.10 on Friday. PIMCO Access Income Fund has a fifty-two week low of $13.74 and a fifty-two week high of $16.56. The stock has a 50 day moving average price of $14.38 and a two-hundred day moving average price of $15.06.

PIMCO Access Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.1494 per share. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date of this dividend is Thursday, June 11th.

About PIMCO Access Income Fund

The PIMCO Access Income Fund (NYSE:PAXS) is an actively managed, closed-end management investment company sponsored by Pacific Investment Management Company LLC (“PIMCO”). The fund seeks to provide current income, with a secondary objective of capital appreciation, by investing primarily in a diversified portfolio of global fixed income and income-related securities.

PAXS employs a broad credit strategy that spans corporate debt, structured finance instruments and emerging market debt.