PIMCO High Income Fund (NYSE:PHK) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of PIMCO High Income Fund (NYSE:PHK) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.85 and traded as high as $4.86. PIMCO High Income Fund shares last traded at $4.8550, with a volume of 448,884 shares changing hands.

PIMCO High Income Fund Stock Performance

The stock’s 50 day moving average is $4.87 and its two-hundred day moving average is $4.85.

PIMCO High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.048 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%.

Institutional Trading of PIMCO High Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC acquired a new position in shares of PIMCO High Income Fund in the second quarter valued at approximately $1,798,000. Future Financial Wealth Managment LLC grew its position in PIMCO High Income Fund by 1,231.0% in the 2nd quarter. Future Financial Wealth Managment LLC now owns 133,102 shares of the investment management company’s stock valued at $639,000 after buying an additional 123,102 shares during the last quarter. UBS Group AG grew its position in PIMCO High Income Fund by 11.5% in the 3rd quarter. UBS Group AG now owns 1,158,962 shares of the investment management company’s stock valued at $5,783,000 after buying an additional 119,350 shares during the last quarter. Presper Financial Architects LLC acquired a new position in PIMCO High Income Fund in the 2nd quarter valued at $539,000. Finally, Orion Porfolio Solutions LLC raised its position in PIMCO High Income Fund by 23.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 430,521 shares of the investment management company’s stock worth $2,067,000 after buying an additional 80,433 shares during the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

About PIMCO High Income Fund

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.