Short Interest in PIMCO High Income Fund (NYSE:PHK) Expands By 198.2%

PIMCO High Income Fund (NYSE:PHK – Get Rating) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 267,200 shares, an increase of 198.2% from the April 15th total of 89,600 shares. Based on an average daily volume of 457,400 shares, the days-to-cover ratio is presently 0.6 days.

NYSE PHK remained flat at $$5.56 during mid-day trading on Friday. 370,255 shares of the company traded hands, compared to its average volume of 399,397. The firm’s fifty day moving average price is $5.71 and its 200 day moving average price is $5.97. PIMCO High Income Fund has a twelve month low of $5.33 and a twelve month high of $7.09.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Thursday, May 12th will be paid a dividend of $0.048 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 10.36%. The ex-dividend date of this dividend is Wednesday, May 11th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Concourse Financial Group Securities Inc. raised its stake in PIMCO High Income Fund by 99.4% in the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,013 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 2,000 shares during the period. Citigroup Inc. grew its holdings in shares of PIMCO High Income Fund by 43.5% during the third quarter. Citigroup Inc. now owns 6,851 shares of the investment management company’s stock worth $43,000 after purchasing an additional 2,078 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new stake in PIMCO High Income Fund in the fourth quarter worth approximately $58,000. Freestone Capital Holdings LLC purchased a new stake in PIMCO High Income Fund in the fourth quarter worth approximately $63,000. Finally, National Asset Management Inc. purchased a new stake in PIMCO High Income Fund in the fourth quarter worth approximately $65,000. Institutional investors own 8.64% of the company’s stock.

About PIMCO High Income Fund (Get Rating)

PIMCO High Income Fund 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 invests in the public fixed income markets across the globe. The fund invests in U.S. dollar denominated high-yield corporate debt obligations.

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