PCM Fund Inc. (NYSE:PCM - Get Free Report) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 19,600 shares, a growth of 23.3% from the October 15th total of 15,900 shares. Based on an average daily trading volume, of 46,700 shares, the days-to-cover ratio is presently 0.4 days.
Institutional Trading of PCM Fund
A hedge fund recently raised its stake in PCM Fund stock. Financial Advocates Investment Management increased its stake in shares of PCM Fund Inc. (NYSE:PCM - Free Report) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,897 shares of the investment management company's stock after purchasing an additional 5,972 shares during the quarter. Financial Advocates Investment Management owned approximately 1.51% of PCM Fund worth $1,342,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.26% of the company's stock.
PCM Fund Stock Performance
Shares of PCM Fund stock traded down $0.05 on Friday, reaching $8.00. 31,798 shares of the stock were exchanged, compared to its average volume of 44,276. The firm's 50 day moving average is $8.03 and its 200-day moving average is $7.98. PCM Fund has a one year low of $7.26 and a one year high of $9.15.
PCM Fund Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.96 annualized dividend and a dividend yield of 12.00%.
About PCM Fund
(
Get Free Report)
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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