PIMCO High Income Fund (NYSE:PHK) Sees Large Decline in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 114,800 shares, a decline of 14.2% from the March 31st total of 133,800 shares. Based on an average daily volume of 808,600 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. LPL Financial LLC raised its stake in PIMCO High Income Fund by 54.3% during the fourth quarter. LPL Financial LLC now owns 1,624,495 shares of the investment management company’s stock worth $7,895,000 after purchasing an additional 571,384 shares during the period. Bank of America Corp DE grew its position in PIMCO High Income Fund by 7.1% in the fourth quarter. Bank of America Corp DE now owns 1,290,578 shares of the investment management company’s stock worth $6,272,000 after acquiring an additional 85,312 shares during the period. Invesco Ltd. grew its position in PIMCO High Income Fund by 5.2% in the fourth quarter. Invesco Ltd. now owns 1,160,069 shares of the investment management company’s stock worth $5,638,000 after acquiring an additional 57,314 shares during the period. Cohen & Steers Inc. increased its stake in PIMCO High Income Fund by 10.3% during the fourth quarter. Cohen & Steers Inc. now owns 1,063,601 shares of the investment management company’s stock worth $5,169,000 after acquiring an additional 99,653 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in PIMCO High Income Fund by 12.7% in the first quarter. Envestnet Asset Management Inc. now owns 877,732 shares of the investment management company’s stock valued at $4,292,000 after purchasing an additional 98,600 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Stock Performance

PHK stock opened at $4.79 on Friday. PIMCO High Income Fund has a 1 year low of $4.18 and a 1 year high of $5.18. The business has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $4.90.

PIMCO High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were issued a $0.048 dividend. This represents a $0.58 annualized dividend and a yield of 12.03%. The ex-dividend date of this dividend was Friday, April 11th.

About PIMCO High Income Fund

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.