Short Interest in PIMCO High Income Fund (NYSE:PHK) Increases By 107.5%

PIMCO High Income Fund (NYSE:PHK - Get Free Report) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 85,700 shares, a growth of 107.5% from the February 13th total of 41,300 shares. Based on an average trading volume of 696,700 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PHK. LPL Financial LLC grew its position in PIMCO High Income Fund by 54.3% in the fourth quarter. LPL Financial LLC now owns 1,624,495 shares of the investment management company's stock worth $7,895,000 after buying an additional 571,384 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of PIMCO High Income Fund by 84.1% during the fourth quarter. Guggenheim Capital LLC now owns 815,826 shares of the investment management company's stock valued at $3,965,000 after purchasing an additional 372,623 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of PIMCO High Income Fund during the fourth quarter valued at $1,554,000. Rivernorth Capital Management LLC lifted its holdings in shares of PIMCO High Income Fund by 6.5% during the third quarter. Rivernorth Capital Management LLC now owns 4,939,765 shares of the investment management company's stock valued at $24,699,000 after purchasing an additional 301,706 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in shares of PIMCO High Income Fund during the third quarter valued at $1,419,000. Institutional investors and hedge funds own 11.75% of the company's stock.

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PIMCO High Income Fund Trading Down 0.3 %

Shares of PIMCO High Income Fund stock traded down $0.02 on Tuesday, hitting $4.87. The company had a trading volume of 369,758 shares, compared to its average volume of 580,325. The business has a 50-day simple moving average of $4.91 and a 200-day simple moving average of $4.96. PIMCO High Income Fund has a 52 week low of $4.59 and a 52 week high of $5.18.

PIMCO High Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a yield of 11.84%. The ex-dividend date is Thursday, March 13th.

PIMCO High Income Fund Company Profile

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.