Pcm Fund (NYSE:PCM) Share Price Passes Below 200 Day Moving Average – Here’s Why

Pcm Fund (NYSE:PCM) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.38 and traded as low as $6.25. Pcm Fund shares last traded at $6.3550, with a volume of 53,896 shares changing hands.

Pcm Fund Price Performance

The company’s fifty day moving average is $6.50 and its two-hundred day moving average is $6.38.

Pcm Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.0642 dividend. The ex-dividend date is Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%.

Institutional Investors Weigh In On Pcm Fund

Hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. acquired a new stake in Pcm Fund during the 1st quarter worth about $1,565,000. Arlington Capital Management Inc. acquired a new position in shares of Pcm Fund in the 1st quarter valued at about $651,000. Ieq Capital LLC purchased a new stake in shares of Pcm Fund in the first quarter worth about $591,000. Finally, Sovran Advisors LLC boosted its stake in shares of Pcm Fund by 3.9% in the third quarter. Sovran Advisors LLC now owns 88,609 shares of the investment management company’s stock worth $553,000 after buying an additional 3,354 shares during the last quarter. 10.26% of the stock is owned by hedge funds and other institutional investors.

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.