PCM Fund Inc. (NYSE:PCM) Sees Large Increase in Short Interest

PCM Fund Inc. (NYSE:PCM) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 19,000 shares, a growth of 363.4% from the May 15th total of 4,100 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 50,700 shares, the short-interest ratio is presently 0.4 days.

PCM Fund Stock Performance

Shares of NYSE PCM opened at $6.26 on Friday. PCM Fund has a twelve month low of $5.88 and a twelve month high of $8.39. The stock’s 50 day moving average price is $6.22 and its 200-day moving average price is $6.71.

PCM Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th will be paid a $0.0642 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 12.31%.

Institutional Investors Weigh In On PCM Fund

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of PCM Fund in the 4th quarter worth approximately $137,000. Two Sigma Securities LLC bought a new stake in shares of PCM Fund in the 4th quarter worth approximately $152,000. Sovran Advisors LLC raised its holdings in shares of PCM Fund by 47.1% in the 1st quarter. Sovran Advisors LLC now owns 84,712 shares of the investment management company’s stock worth $514,000 after purchasing an additional 27,128 shares during the period. Ieq Capital LLC bought a new stake in shares of PCM Fund in the 1st quarter worth approximately $591,000. Finally, Arlington Capital Management Inc. bought a new stake in shares of PCM Fund in the 1st quarter worth approximately $651,000. Institutional investors own 10.26% of the company’s stock.

About PCM Fund

PCM Fund Inc 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 seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.