PIMCO High Income Fund (NYSE:PHK) Stock Passes Above Two Hundred Day Moving Average of $4.71

PIMCO High Income Fund (NYSE:PHK) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.71 and traded as high as $4.98. PIMCO High Income Fund shares last traded at $4.94, with a volume of 494,449 shares trading hands.

PIMCO High Income Fund Price Performance

The stock has a 50 day moving average price of $4.92 and a 200 day moving average price of $4.71.

PIMCO High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be given a $0.048 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 11.66%.

Hedge Funds Weigh In On PIMCO High Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted 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 worth $5,546,000 after purchasing an additional 559,537 shares during the period. Bank of America Corp DE lifted its stake in PIMCO High Income Fund by 119.0% in the first quarter. Bank of America Corp DE now owns 695,363 shares of the investment management company’s stock worth $4,019,000 after purchasing an additional 377,903 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in PIMCO High Income Fund by 2,878.9% during the 3rd quarter. Avantax Advisory Services Inc. now owns 311,687 shares of the investment management company’s stock valued at $1,378,000 after acquiring an additional 301,224 shares during the period. Millennium Management LLC boosted its stake in shares of PIMCO High Income Fund by 524.1% during the fourth quarter. Millennium Management LLC now owns 302,834 shares of the investment management company’s stock valued at $1,432,000 after purchasing an additional 254,311 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of PIMCO High Income Fund during the fourth quarter worth approximately $1,147,000. 11.75% of the stock is currently owned by institutional investors.

About PIMCO High Income Fund

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.