PIMCO High Income Fund (NYSE:PHK) Sees Significant Decline in Short Interest

PIMCO High Income Fund (NYSE:PHK – Get Rating) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 50,400 shares, a drop of 38.3% from the April 30th total of 81,700 shares. Based on an average daily volume of 366,000 shares, the short-interest ratio is currently 0.1 days.

PIMCO High Income Fund Price Performance

NYSE:PHK opened at $4.64 on Friday. PIMCO High Income Fund has a fifty-two week low of $4.50 and a fifty-two week high of $5.86. The firm’s 50 day moving average is $4.75 and its two-hundred day moving average is $4.89.

PIMCO High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 11th will be paid a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a yield of 12.41%. The ex-dividend date is Wednesday, May 10th.

Hedge Funds Weigh In On PIMCO High Income Fund

Large investors have recently bought and sold shares of the stock. Morgan Stanley raised its stake in shares of PIMCO High Income Fund by 91.3% in the 4th quarter. Morgan Stanley now owns 1,172,498 shares of the investment management company’s stock valued at $5,546,000 after acquiring an additional 559,537 shares during the period. Penserra Capital Management LLC raised its stake in shares of PIMCO High Income Fund by 41.3% in the 1st quarter. Penserra Capital Management LLC now owns 1,768,753 shares of the investment management company’s stock valued at $8,436,000 after acquiring an additional 516,681 shares during the period. Bank of America Corp DE raised its stake in shares of PIMCO High Income Fund by 119.0% in the 1st quarter. Bank of America Corp DE now owns 695,363 shares of the investment management company’s stock valued at $4,019,000 after acquiring an additional 377,903 shares during the period. Millennium Management LLC raised its stake in shares of PIMCO High Income Fund by 524.1% in the 4th quarter. Millennium Management LLC now owns 302,834 shares of the investment management company’s stock valued at $1,432,000 after acquiring an additional 254,311 shares during the period. Finally, Cetera Advisor Networks LLC raised its stake in shares of PIMCO High Income Fund by 64.4% in the 4th quarter. Cetera Advisor Networks LLC now owns 514,874 shares of the investment management company’s stock valued at $2,435,000 after acquiring an additional 201,677 shares during the period. Hedge funds and other institutional investors own 9.80% of the company’s stock.

PIMCO High Income Fund Company Profile

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PIMCO High Income Fund is a closed-end management investment company. It seeks high current income, with capital appreciation as a secondary objective. The company was founded on February 18, 2003 and is headquartered in New York, NY.