Pcm Fund (NYSE:PCM) Sees Significant Increase in Short Interest

Pcm Fund (NYSE:PCMGet Free Report) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 77,689 shares, a growth of 62.4% from the July 30th total of 47,824 shares. Based on an average daily trading volume, of 54,846 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.6% of the shares of the stock are short sold.

Pcm Fund Stock Up 0.2%

Shares of NYSE:PCM traded up $0.01 during mid-day trading on Wednesday, hitting $5.33. The stock had a trading volume of 57,722 shares, compared to its average volume of 50,146. The company’s 50 day moving average is $5.60 and its 200-day moving average is $5.71. Pcm Fund has a 12-month low of $5.22 and a 12-month high of $6.76.

Pcm 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 paid a $0.0642 dividend. The ex-dividend date is Friday, September 11th. This represents a c) dividend on an annualized basis and a yield of 14.5%.

Hedge Funds Weigh In On Pcm Fund

Institutional investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC grew its position in shares of Pcm Fund by 6.8% during the 2nd quarter. Rivernorth Capital Management LLC now owns 512,236 shares of the investment management company’s stock worth $2,858,000 after buying an additional 32,732 shares during the period. LPL Financial LLC lifted its position in Pcm Fund by 6.7% during the 4th quarter. LPL Financial LLC now owns 308,436 shares of the investment management company’s stock worth $1,894,000 after buying an additional 19,364 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of Pcm Fund by 33.4% in the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company’s stock valued at $1,779,000 after buying an additional 72,482 shares in the last quarter. Concord Investment Counsel Inc. bought a new position in shares of Pcm Fund during the 2nd quarter worth approximately $358,000. Finally, Landscape Capital Management L.L.C. bought a new position in Pcm Fund in the 2nd quarter valued at about $322,000. 10.26% of the stock is owned by institutional investors.

Pcm Fund Company Profile

(Get Free Report)

PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.

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