Pcm Fund (NYSE:PCM) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Pcm Fund (NYSE:PCM) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $5.03 and traded as low as $4.98. Pcm Fund shares last traded at $5.0050, with a volume of 157,695 shares.

Pcm Fund Trading Down 1.3%

The stock has a fifty day simple moving average of $5.03 and a two-hundred day simple moving average of $5.56.

Pcm Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a $0.0642 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 15.4%. The ex-dividend date is Friday, November 13th.

Institutional Trading of Pcm Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arlington Capital Management Inc. lifted its stake in Pcm Fund by 8.0% in the 2nd quarter. Arlington Capital Management Inc. now owns 62,070 shares of the investment management company’s stock worth $346,000 after purchasing an additional 4,582 shares in the last quarter. Rivernorth Capital Management LLC boosted its holdings in Pcm Fund by 6.8% in the 2nd quarter. Rivernorth Capital Management LLC now owns 512,236 shares of the investment management company’s stock valued at $2,858,000 after purchasing an additional 32,732 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of Pcm Fund during the 2nd quarter valued at $322,000. Finally, Concord Investment Counsel Inc. purchased a new position in shares of Pcm Fund during the 2nd quarter valued at $358,000. Institutional investors own 10.26% of the company’s stock.

Pcm Fund Company Profile

PCM Fund, Inc. is a closed-end investment fund that focuses primarily on commercial mortgage-backed securities and other mortgage-related investments. Through a portfolio of fixed-income assets, the fund seeks to generate current income while also providing the potential for capital appreciation. The fund’s investments may include securities backed by pools of commercial real estate loans, as well as other debt instruments and structured products related to the commercial property market. Its performance is influenced by interest rates, credit conditions, property-market fundamentals and the quality of the underlying loans.