PIMCO High Income Fund (NYSE:PHK) Sees Significant Growth in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 255,335 shares, a growth of 113.9% from the May 31st total of 119,345 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 681,480 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. bought a new stake in shares of PIMCO High Income Fund in the 2nd quarter worth approximately $235,000. Invesco Ltd. grew its holdings in PIMCO High Income Fund by 2.3% during the second quarter. Invesco Ltd. now owns 1,226,204 shares of the investment management company’s stock valued at $5,886,000 after purchasing an additional 27,751 shares during the period. Jane Street Group LLC purchased a new stake in PIMCO High Income Fund in the second quarter worth $48,000. Bank of America Corp DE increased its position in PIMCO High Income Fund by 3.5% in the second quarter. Bank of America Corp DE now owns 960,259 shares of the investment management company’s stock worth $4,609,000 after buying an additional 32,540 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in shares of PIMCO High Income Fund by 23.0% in the second quarter. Orion Porfolio Solutions LLC now owns 430,521 shares of the investment management company’s stock valued at $2,067,000 after buying an additional 80,433 shares during the period. 11.75% of the stock is owned by institutional investors.

PIMCO High Income Fund Trading Up 0.3%

NYSE PHK opened at $4.66 on Tuesday. PIMCO High Income Fund has a one year low of $4.41 and a one year high of $5.04. The business’s fifty day moving average is $4.58 and its 200-day moving average is $4.74.

PIMCO High Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Thursday, June 11th will be given a $0.048 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) annualized dividend and a yield of 12.4%.

About PIMCO High Income Fund

The PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company that seeks to deliver high current income with a secondary focus on capital appreciation. The fund principally invests in a diversified portfolio of fixed-income securities, including corporate high-yield bonds, emerging market debt, securitized products and leveraged loans. PHK may also employ derivatives to enhance income and manage portfolio duration.

PHK’s investment team pursues a benchmark-agnostic approach, allocating capital across credit sectors and global regions based on bottom-up credit analysis and macroeconomic outlooks.