Short Interest in PIMCO High Income Fund (NYSE:PHK) Increases By 25.4%

PIMCO High Income Fund (NYSE:PHK) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 664,076 shares, a growth of 25.4% from the February 26th total of 529,403 shares. Based on an average daily volume of 1,064,681 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Investors Weigh In On PIMCO High Income Fund

A number of hedge funds have recently modified their holdings of PHK. Guerra Advisors Inc bought a new position in shares of PIMCO High Income Fund in the third quarter worth about $28,000. Aspect Partners LLC bought a new stake in PIMCO High Income Fund during the 3rd quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its position in shares of PIMCO High Income Fund by 31,295.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 6,279 shares of the investment management company’s stock worth $31,000 after purchasing an additional 6,259 shares during the period. Jane Street Group LLC bought a new position in shares of PIMCO High Income Fund in the second quarter worth approximately $48,000. Finally, Zullo Investment Group Inc. bought a new stake in shares of PIMCO High Income Fund during the 3rd quarter valued at $50,000. Institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Stock Performance

Shares of PHK traded up $0.04 on Wednesday, reaching $4.67. The company’s stock had a trading volume of 134,194 shares, compared to its average volume of 799,117. The stock’s 50 day simple moving average is $4.82 and its two-hundred day simple moving average is $4.86. PIMCO High Income Fund has a 12-month low of $4.18 and a 12-month high of $5.04.

PIMCO High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Thursday, March 12th will be given a $0.048 dividend. The ex-dividend date is Thursday, March 12th. This represents a c) annualized dividend and a yield of 12.3%.

About PIMCO High Income Fund

The PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK’s investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.