PIMCO High Income Fund (NYSE:PHK – Get Free Report) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 255,335 shares, a growth of 113.9% from the May 31st total of 119,345 shares. Based on an average daily volume of 681,480 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are sold short.
Institutional Trading of PIMCO High Income Fund
Several hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. purchased a new stake in shares of PIMCO High Income Fund during the 2nd quarter worth approximately $235,000. Invesco Ltd. lifted its stake in PIMCO High Income Fund by 2.3% in the 2nd quarter. Invesco Ltd. now owns 1,226,204 shares of the investment management company’s stock valued at $5,886,000 after buying an additional 27,751 shares in the last quarter. Jane Street Group LLC acquired a new stake in PIMCO High Income Fund during the 2nd quarter valued at $48,000. Bank of America Corp DE grew its holdings in PIMCO High Income Fund by 3.5% during the 2nd quarter. Bank of America Corp DE now owns 960,259 shares of the investment management company’s stock valued at $4,609,000 after buying an additional 32,540 shares during the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in PIMCO High Income Fund by 23.0% during the second quarter. Orion Porfolio Solutions LLC now owns 430,521 shares of the investment management company’s stock worth $2,067,000 after buying an additional 80,433 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.
PIMCO High Income Fund Stock Performance
PIMCO High Income Fund stock traded down $0.01 during mid-day trading on Wednesday, hitting $4.66. The company had a trading volume of 1,005,894 shares, compared to its average volume of 740,709. PIMCO High Income Fund has a 1 year low of $4.41 and a 1 year high of $5.04. The business has a fifty day moving average of $4.58 and a 200 day moving average of $4.73.
PIMCO High Income Fund Dividend Announcement
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.
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