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

Pcm Fund (NYSE:PCM)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.80 and traded as low as $5.55. Pcm Fund shares last traded at $5.58, with a volume of 29,515 shares traded.

Pcm Fund Stock Performance

The stock has a 50 day simple moving average of $5.64 and a 200-day simple moving average of $5.80.

Pcm Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 13th will be issued a dividend of $0.0642 per share. The ex-dividend date is Monday, July 13th. This represents a c) annualized dividend and a dividend yield of 13.8%.

Hedge Funds Weigh In On Pcm Fund

Large investors have recently modified their holdings of the stock. Scotia Capital Inc. purchased a new stake in Pcm Fund during the 3rd quarter valued at about $92,000. Integrity Advisory Solutions LLC bought a new stake in Pcm Fund during the 4th quarter valued at about $83,000. LPL Financial LLC raised its holdings in Pcm Fund by 6.7% in the fourth quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock worth $1,894,000 after buying an additional 19,364 shares during the last quarter. Everett Harris & Co. CA purchased a new position in Pcm Fund in the fourth quarter worth about $80,000. Finally, StoneX Group Inc. bought a new position in shares of Pcm Fund in the fourth quarter worth approximately $68,000. Hedge funds and other 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.