Short Interest in PIMCO High Income Fund (NYSE:PHK) Increases By 70.7%

PIMCO High Income Fund (NYSE:PHK - Get Free Report) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 146,300 shares, a growth of 70.7% from the February 28th total of 85,700 shares. Approximately 0.1% of the company's shares are sold short. Based on an average trading volume of 692,100 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On PIMCO High Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in PHK. Western Wealth Management LLC bought a new position in PIMCO High Income Fund during the 4th quarter valued at about $88,000. Elequin Capital LP bought a new position in shares of PIMCO High Income Fund during the fourth quarter valued at approximately $93,000. Millennium Management LLC raised its holdings in shares of PIMCO High Income Fund by 8.9% in the fourth quarter. Millennium Management LLC now owns 152,512 shares of the investment management company's stock worth $741,000 after buying an additional 12,482 shares during the period. Citadel Advisors LLC bought a new stake in shares of PIMCO High Income Fund during the 4th quarter worth approximately $108,000. Finally, Bank of America Corp DE boosted its holdings in PIMCO High Income Fund by 7.1% during the 4th quarter. Bank of America Corp DE now owns 1,290,578 shares of the investment management company's stock valued at $6,272,000 after acquiring an additional 85,312 shares during the period. Hedge funds and other institutional investors own 11.75% of the company's stock.

PIMCO High Income Fund Price Performance

Shares of NYSE:PHK traded up $0.01 during trading on Wednesday, hitting $4.88. The company had a trading volume of 429,257 shares, compared to its average volume of 586,130. The company has a fifty day simple moving average of $4.91 and a two-hundred day simple moving average of $4.96. PIMCO High Income Fund has a one year low of $4.59 and a one year high of $5.18.

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PIMCO High Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were given a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a yield of 11.80%. The ex-dividend date of this dividend was 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.