Short Interest in PIMCO High Income Fund (NYSE:PHK) Drops By 52.6%

PIMCO High Income Fund (NYSE:PHKGet Free Report) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 822,828 shares, a decline of 52.6% from the August 15th total of 1,737,699 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 775,760 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On PIMCO High Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHK. Integrated Wealth Concepts LLC bought a new stake in PIMCO High Income Fund in the 2nd quarter worth approximately $128,000. RFG Advisory LLC bought a new position in shares of PIMCO High Income Fund during the 2nd quarter valued at approximately $1,821,000. Baird Financial Group Inc. boosted 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 acquiring an additional 6,021 shares during the last quarter. Highland Investment Advisors LLC purchased a new position in shares of PIMCO High Income Fund in the second quarter valued at $47,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of PIMCO High Income Fund in the second quarter valued at $50,000. 11.75% of the stock is owned by institutional investors.

PIMCO High Income Fund Trading Up 0.6%

Shares of PHK stock opened at $4.38 on Monday. The company’s fifty day simple moving average is $4.61 and its two-hundred day simple moving average is $4.62. PIMCO High Income Fund has a 52 week low of $4.34 and a 52 week high of $5.00.

PIMCO High Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $0.048 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date is Friday, September 11th.

PIMCO High Income Fund Company Profile

(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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