Shares of PIMCO High Income Fund (NYSE:PHK – Get Free Report) hit a new 52-week low on Tuesday. The stock traded as low as $4.01 and last traded at $4.0250, with a volume of 41,809 shares. The stock had previously closed at $4.03.
PIMCO High Income Fund Stock Up 0.6%
The business has a fifty day simple moving average of $4.34 and a 200-day simple moving average of $4.52.
PIMCO High Income Fund Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be issued a dividend of $0.0480 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date is Tuesday, October 13th.
Insider Activity at PIMCO High Income Fund
In other PIMCO High Income Fund news, Director David C. Flattum bought 60,204 shares of PIMCO High Income Fund stock in a transaction dated Tuesday, October 6th. The shares were purchased at an average cost of $4.14 per share, with a total value of $249,244.56. Following the transaction, the director directly owned 60,204 shares of the company’s stock, valued at $249,244.56. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Highland Investment Advisors LLC bought a new stake in PIMCO High Income Fund during the second quarter worth about $47,000. Bank of New York Mellon Corp purchased a new stake in PIMCO High Income Fund in the second quarter worth about $48,000. Concurrent Investment Advisors LLC purchased a new stake in PIMCO High Income Fund in the second quarter worth about $50,000. Prairie Advisory LLC purchased a new stake in PIMCO High Income Fund in the third quarter worth about $82,000. Finally, Arkadios Wealth Advisors bought a new position in shares of PIMCO High Income Fund during the first quarter valued at approximately $117,000. 11.75% of the stock is owned by hedge funds and other institutional investors.
About PIMCO High Income Fund
PIMCO High Income Fund (NYSE: PHK) is a closed-end fund managed by Pacific Investment Management Company LLC (PIMCO), a global investment management firm. The fund’s primary objective is to seek high current income for its shareholders, with capital appreciation as a secondary objective.
The fund invests primarily in a diversified portfolio of fixed-income securities, including corporate bonds, loans, mortgage-related instruments, government and sovereign debt, and other income-producing credit investments.
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