Pcm Fund (NYSE:PCM) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Pcm Fund (NYSE:PCM)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.35 and traded as low as $6.20. Pcm Fund shares last traded at $6.34, with a volume of 97,821 shares.

Pcm Fund Price Performance

The firm has a 50 day moving average of $6.51 and a 200-day moving average of $6.35.

Pcm Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Tuesday, October 14th will be paid a dividend of $0.0642 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%.

Institutional Investors Weigh In On Pcm Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PCM. Sovran Advisors LLC raised its stake in shares of Pcm Fund by 47.1% during the 1st quarter. Sovran Advisors LLC now owns 84,712 shares of the investment management company’s stock worth $514,000 after purchasing an additional 27,128 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of Pcm Fund during the 1st quarter worth about $591,000. Arlington Capital Management Inc. purchased a new stake in shares of Pcm Fund during the 1st quarter worth about $651,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Pcm Fund during the 1st quarter worth about $1,565,000. 10.26% of the stock is owned by hedge funds and other institutional investors.

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.