PIMCO High Income Fund (NYSE:PHK) Sees Large Volume Increase – Still a Buy?

Shares of PIMCO High Income Fund (NYSE:PHKGet Free Report) saw strong trading volume on Monday . Approximately 1,296,422 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 796,516 shares.The stock last traded at $4.3250 and had previously closed at $4.36.

PIMCO High Income Fund Stock Down 0.8%

The firm’s 50 day moving average is $4.61 and its two-hundred day moving average is $4.62.

PIMCO High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.048 per share. The ex-dividend date is Friday, September 11th. This represents a c) annualized dividend and a yield of 13.3%.

Institutional Investors Weigh In On PIMCO High Income Fund

Several large investors have recently added to or reduced their stakes in PHK. Integrity Advisory Solutions LLC lifted its position in shares of PIMCO High Income Fund by 28.2% during the 4th quarter. Integrity Advisory Solutions LLC now owns 16,832 shares of the investment management company’s stock worth $82,000 after buying an additional 3,707 shares in the last quarter. Moors & Cabot Inc. grew its stake in PIMCO High Income Fund by 19.5% in the 4th quarter. Moors & Cabot Inc. now owns 24,500 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 4,000 shares during the period. MML Investors Services LLC grew its stake in PIMCO High Income Fund by 7.9% in the 4th quarter. MML Investors Services LLC now owns 82,080 shares of the investment management company’s stock valued at $399,000 after purchasing an additional 6,000 shares during the period. Baird Financial Group Inc. increased its position in shares of PIMCO High Income Fund by 3.5% during the 2nd quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company’s stock valued at $832,000 after purchasing an additional 6,021 shares during the last quarter. Finally, Royal Bank of Canada grew its position in PIMCO High Income Fund by 4.2% during the fourth quarter. Royal Bank of Canada now owns 149,644 shares of the investment management company’s stock valued at $727,000 after buying an additional 6,043 shares during the period. Institutional investors and hedge funds own 11.75% of the company’s stock.

About PIMCO High Income Fund

(Get Free Report)

PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of income-producing debt securities. These investments may include below-investment-grade corporate bonds, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments issued by companies and governments in the United States and international markets.

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