Pcm Fund (NYSE:PCM) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Pcm Fund (NYSE:PCM) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.90 and traded as low as $5.56. Pcm Fund shares last traded at $5.5780, with a volume of 15,727 shares.

Pcm Fund Trading Down 0.2%

The company’s 50-day moving average is $5.71 and its two-hundred day moving average is $5.90.

Pcm Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 11th will be given a $0.0642 dividend. This represents a c) dividend on an annualized basis and a yield of 13.8%. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On Pcm Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCM. Rivernorth Capital Management LLC bought a new position in Pcm Fund during the fourth quarter worth about $1,849,000. Guggenheim Capital LLC boosted its position in Pcm Fund by 33.4% during the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company’s stock worth $1,779,000 after purchasing an additional 72,482 shares during the period. Arlington Capital Management Inc. bought a new position in Pcm Fund during the first quarter worth about $328,000. LPL Financial LLC boosted its position in Pcm Fund by 6.7% during the fourth quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock worth $1,894,000 after purchasing an additional 19,364 shares during the period. Finally, Scotia Capital Inc. bought a new position in Pcm Fund during the third quarter worth about $92,000. Institutional investors own 10.26% of the company’s stock.

Pcm Fund Company Profile

PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.