PCM Fund (NYSE:PCM) Share Price Passes Below 200 Day Moving Average of $9.93

Shares of PCM Fund Inc. (NYSE:PCMGet Rating) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.93 and traded as low as $8.86. PCM Fund shares last traded at $8.86, with a volume of 43,989 shares.

PCM Fund Stock Down 3.7 %

The business’s 50 day moving average price is $9.76 and its 200 day moving average price is $9.93.

PCM Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.84%. The ex-dividend date is Friday, September 9th.

Hedge Funds Weigh In On PCM Fund

A number of institutional investors and hedge funds have recently made changes to their positions in PCM. CoreCap Advisors LLC boosted its holdings in shares of PCM Fund by 40.1% in the first quarter. CoreCap Advisors LLC now owns 14,615 shares of the investment management company’s stock worth $149,000 after buying an additional 4,185 shares during the last quarter. Financial Advocates Investment Management purchased a new position in PCM Fund during the first quarter valued at approximately $233,000. NewEdge Advisors LLC lifted its holdings in PCM Fund by 2.0% during the first quarter. NewEdge Advisors LLC now owns 139,845 shares of the investment management company’s stock valued at $1,424,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in PCM Fund by 44.1% during the first quarter. Bank of America Corp DE now owns 55,585 shares of the investment management company’s stock valued at $566,000 after purchasing an additional 17,016 shares in the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

About PCM Fund

(Get Rating)

PCM Fund Inc is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.

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