PIMCO High Income Fund (NYSE:PHK) Hits New 1-Year Low – Here’s Why

Shares of PIMCO High Income Fund (NYSE:PHK) reached a new 52-week low on Friday . The stock traded as low as $4.26 and last traded at $4.2850, with a volume of 608084 shares traded. The stock had previously closed at $4.38.

PIMCO High Income Fund Stock Down 2.6%

The company’s 50 day simple moving average is $4.58 and its 200 day simple moving average is $4.61.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $0.048 per share. This represents a c) annualized dividend and a yield of 13.5%. The ex-dividend date is Friday, September 11th.

Hedge Funds Weigh In On PIMCO High Income Fund

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in shares of PIMCO High Income Fund by 4.0% during the first quarter. Bank of America Corp DE now owns 1,247,814 shares of the investment management company’s stock worth $5,777,000 after purchasing an additional 48,233 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of PIMCO High Income Fund by 6.9% in the 1st quarter. Cetera Investment Advisers now owns 941,248 shares of the investment management company’s stock valued at $4,358,000 after purchasing an additional 60,403 shares during the period. RFG Advisory LLC acquired a new stake in shares of PIMCO High Income Fund in the 2nd quarter valued at about $1,821,000. Baird Financial Group Inc. grew its stake in PIMCO High Income Fund by 3.5% during the 2nd quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company’s stock worth $832,000 after buying an additional 6,021 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its stake in PIMCO High Income Fund by 14.0% during the 1st quarter. Sanctuary Advisors LLC now owns 127,114 shares of the investment management company’s stock worth $589,000 after buying an additional 15,628 shares during the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

PIMCO High Income Fund Company Profile

PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of income-producing debt securities. These investments may include below-investment-grade corporate bonds, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments issued by companies and governments in the United States and international markets.