Pcm Fund (NYSE:PCM) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Pcm Fund (NYSE:PCM – Get Free Report)’s share price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $5.03 and traded as low as $4.98. Pcm Fund shares last traded at $5.0050, with a volume of 157,695 shares.

Pcm Fund Stock Performance

The company has a 50-day moving average of $5.03 and a 200 day moving average of $5.56.

Pcm Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.0642 dividend. This represents a $0.77 annualized dividend and a dividend yield of 15.4%. The ex-dividend date is Friday, November 13th.

Institutional Investors Weigh In On Pcm Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arlington Capital Management Inc. lifted its position in Pcm Fund by 8.0% during the second quarter. Arlington Capital Management Inc. now owns 62,070 shares of the investment management company’s stock valued at $346,000 after purchasing an additional 4,582 shares during the last quarter. Rivernorth Capital Management LLC grew its stake in Pcm Fund by 6.8% in 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 in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Pcm Fund in the 2nd quarter worth approximately $322,000. Finally, Concord Investment Counsel Inc. bought a new position in shares of Pcm Fund in the 2nd quarter worth $358,000. 10.26% of the stock is owned by hedge funds and other institutional investors.

Pcm Fund Company Profile

(Get Free Report)

PCM Fund, Inc. is a closed-end investment fund that focuses primarily on commercial mortgage-backed securities and other mortgage-related investments. Through a portfolio of fixed-income assets, the fund seeks to generate current income while also providing the potential for capital appreciation. The fund’s investments may include securities backed by pools of commercial real estate loans, as well as other debt instruments and structured products related to the commercial property market. Its performance is influenced by interest rates, credit conditions, property-market fundamentals and the quality of the underlying loans.

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