PIMCO Dynamic Income Fund (NYSE:PDI) Sees Significant Growth in Short Interest

PIMCO Dynamic Income Fund (NYSE:PDI) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 1,048,214 shares, a growth of 4,052.3% from the September 30th total of 25,244 shares. Based on an average daily trading volume, of 4,419,382 shares, the days-to-cover ratio is currently 0.2 days.

Insiders Place Their Bets

In related news, Director Alan Rappaport bought 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average cost of $13.76 per share, with a total value of $75,680.00. Following the acquisition, the director owned 9,313 shares in the company, valued at $128,146.88. This trade represents a 144.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David C. Flattum purchased 17,448 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was acquired at an average price of $14.30 per share, with a total value of $249,506.40. Following the purchase, the director directly owned 17,448 shares in the company, valued at $249,506.40. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 28,648 shares of company stock valued at $405,100.

Institutional Investors Weigh In On PIMCO Dynamic Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of PDI. Apollon Wealth Management LLC raised its stake in shares of PIMCO Dynamic Income Fund by 15.0% in the third quarter. Apollon Wealth Management LLC now owns 28,414 shares of the company’s stock worth $399,000 after purchasing an additional 3,707 shares during the last quarter. Simplicity Wealth LLC acquired a new position in PIMCO Dynamic Income Fund in the 3rd quarter worth approximately $565,000. Manchester Capital Management LLC acquired a new position in PIMCO Dynamic Income Fund in the 3rd quarter worth approximately $183,000. Wedbush Securities Inc. increased its holdings in PIMCO Dynamic Income Fund by 40.2% in the 3rd quarter. Wedbush Securities Inc. now owns 105,783 shares of the company’s stock worth $1,484,000 after buying an additional 30,355 shares during the period. Finally, Brookstone Capital Management lifted its stake in PIMCO Dynamic Income Fund by 4.1% during the 3rd quarter. Brookstone Capital Management now owns 39,331 shares of the company’s stock valued at $552,000 after acquiring an additional 1,550 shares during the period.

PIMCO Dynamic Income Fund Stock Performance

PIMCO Dynamic Income Fund stock traded down $0.17 during midday trading on Monday, reaching $14.14. The stock had a trading volume of 2,334,256 shares, compared to its average volume of 3,148,394. PIMCO Dynamic Income Fund has a 52-week low of $13.73 and a 52-week high of $19.00. The company has a fifty day moving average of $14.62 and a 200 day moving average of $15.97.

PIMCO Dynamic Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be issued a $0.2205 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $2.65 dividend on an annualized basis and a yield of 18.7%.

PIMCO Dynamic Income Fund Company Profile

PIMCO Dynamic Income Fund is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide current income as its primary objective and capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of fixed-income and other income-producing securities. Its investments may include corporate and government debt, mortgage-related securities, emerging-market debt, bank loans, structured credit and other credit-related instruments.