PIMCO High Income Fund (NYSE:PHK) Short yield down 73.4% in February
The PIMCO High Income Fund (NYSE:PHK – Get Rating) was the target of a sharp drop in short-term interest during the month of February. As of Feb. 28, there was short interest totaling 83,900 shares, down 73.4% from Feb. 13’s total of 315,200 shares. Based on an average trading volume of 553,700 shares, the day-to-cover ratio is currently 0.2 days.
Shares of NYSE PHK traded down $0.06 at midday on Friday, hitting $5.61. The company had a trading volume of 2,068 shares, compared to an average volume of 570,686. The company has a 50-day moving average price of $5.98 and a two-hundred-day moving average price of $6.21. PIMCO High Income Fund has a 1-year minimum of $5.39 and a 1-year maximum of $7.18.
The company also recently declared a monthly dividend, which will be paid on Friday, April 1. Shareholders of record on Friday, March 11 will receive a dividend of $0.048 per share. The ex-dividend date is Thursday, March 10. This represents a dividend of $0.58 on an annualized basis and a dividend yield of 10.27%.
Several hedge funds have recently changed their holdings in the company. Penserra Capital Management LLC increased its holdings of PIMCO High Income Fund shares by 1.4% during the fourth quarter. Penserra Capital Management LLC now owns 1,357,436 shares of the investment management company valued at $8,348,000 after buying an additional 18,830 shares last quarter. Invesco Ltd. increased its holdings of PIMCO High Income Fund shares by 4.7% during the fourth quarter. Invesco Ltd. now owns 1,006,611 shares of the investment management company valued at $6,191,000 after purchasing an additional 45,115 shares last quarter. Commonwealth Equity Services LLC increased its holdings of PIMCO High Income Fund shares by 1.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 726,738 shares of the investment management firm valued at $4,469,000 after buying an additional 13,583 shares last quarter. Morgan Stanley increased its holdings of PIMCO High Income Fund shares by 0.9% during the third quarter. Morgan Stanley now owns 544,656 shares of the investment management company valued at $3,421,000 after buying an additional 4,820 shares last quarter. Finally, Guggenheim Capital LLC increased its holdings of PIMCO High Income Fund shares by 18.1% during the fourth quarter. Guggenheim Capital LLC now owns 497,137 shares of the investment management company valued at $3,058,000 after purchasing an additional 76,063 shares last quarter. Institutional investors and hedge funds hold 8.02% of the company’s shares.
About PIMCO High Income Fund (Get an assessment)
PIMCO High Income Fund is a closed-end investment company. It aims for high current income, with capital appreciation being a secondary objective. The company was founded on February 18, 2003 and is based in New York, NY.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in the PIMCO High Income Fund right now?
Before you consider the PIMCO High Income Fund, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes over…and the PIMCO High Income Fund didn’t make the list.
Although the PIMCO High Income Fund currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here