PCM Fund Inc. (NYSE:PCM - Get Free Report) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 12,600 shares, an increase of 44.8% from the February 13th total of 8,700 shares. Based on an average daily trading volume, of 74,200 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company's shares are short sold.
PCM Fund Stock Up 0.5 %
Shares of NYSE PCM traded up $0.03 during mid-day trading on Thursday, hitting $6.54. The stock had a trading volume of 56,424 shares, compared to its average volume of 55,032. PCM Fund has a 1 year low of $6.37 and a 1 year high of $9.15. The business has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $7.48.
PCM Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a $0.0642 dividend. This represents a $0.77 annualized dividend and a dividend yield of 11.78%. The ex-dividend date of this dividend is Thursday, March 13th.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in PCM. Raymond James Financial Inc. purchased a new position in PCM Fund during the 4th quarter valued at $137,000. Two Sigma Securities LLC purchased a new position in PCM Fund during the 4th quarter valued at $152,000. Horizon Kinetics Asset Management LLC increased its position in PCM Fund by 64.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 40,252 shares of the investment management company's stock valued at $322,000 after purchasing an additional 15,720 shares during the period. Sovran Advisors LLC purchased a new position in PCM Fund during the 4th quarter valued at $443,000. Finally, Financial Advocates Investment Management increased its position in PCM Fund by 10.8% during the 4th quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company's stock valued at $1,662,000 after purchasing an additional 20,950 shares during the period. 10.26% of the stock is owned by hedge funds and other institutional investors.
PCM Fund Company Profile
(
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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