NewEdge Advisors LLC Has $783,000 Stake in PCM Fund Inc. (NYSE:PCM)

NewEdge Advisors LLC reduced its position in shares of PCM Fund Inc. (NYSE:PCM) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,645 shares of the investment management company’s stock after selling 6,500 shares during the quarter. NewEdge Advisors LLC’s holdings in PCM Fund were worth $783,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sovran Advisors LLC purchased a new stake in PCM Fund in the 4th quarter worth about $443,000. Financial Advocates Investment Management boosted its holdings in shares of PCM Fund by 10.8% during the fourth quarter. Financial Advocates Investment Management now owns 215,820 shares of the investment management company’s stock worth $1,662,000 after purchasing an additional 20,950 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in PCM Fund during the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 10.26% of the company’s stock.

PCM Fund Price Performance

Shares of NYSE:PCM opened at $6.12 on Friday. PCM Fund Inc. has a 12-month low of $5.88 and a 12-month high of $9.15. The firm has a fifty day moving average of $6.37 and a two-hundred day moving average of $7.14.

PCM Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.0642 dividend. This represents a $0.77 annualized dividend and a yield of 12.60%. The ex-dividend date is Friday, April 11th.

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.