PCM Fund Inc. (NYSE:PCM) Sees Significant Drop in Short Interest

PCM Fund Inc. (NYSE:PCM - Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 17,700 shares, a decline of 25.6% from the March 15th total of 23,800 shares. Approximately 0.1% of the company's stock are sold short. Based on an average trading volume of 72,100 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On PCM Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in PCM Fund in the fourth quarter valued at approximately $137,000. Two Sigma Securities LLC acquired a new stake in shares of PCM Fund during the fourth quarter worth $152,000. Sovran Advisors LLC bought a new stake in shares of PCM Fund during the 4th quarter valued at $443,000. Finally, Financial Advocates Investment Management lifted its position in PCM Fund by 10.8% during the fourth quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company's stock worth $1,662,000 after purchasing an additional 20,950 shares during the period. 10.26% of the stock is owned by institutional investors.

PCM Fund Stock Performance

NYSE PCM traded up $0.12 during trading hours on Thursday, hitting $6.11. 46,418 shares of the company traded hands, compared to its average volume of 75,234. PCM Fund has a twelve month low of $5.88 and a twelve month high of $9.15. The business's 50-day moving average is $6.39 and its 200-day moving average is $7.17.

PCM Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.0642 per share. This represents a $0.77 annualized dividend and a yield of 12.63%. The ex-dividend date is Friday, April 11th.

PCM Fund Company Profile

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.