PIMCO High Income Fund (NYSE:PHK) Sees Large Decrease in Short Interest

PIMCO High Income Fund (NYSE:PHK) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 822,828 shares, a decline of 52.6% from the August 15th total of 1,737,699 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 775,760 shares, the short-interest ratio is currently 1.1 days.

Hedge Funds Weigh In On PIMCO High Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Integrity Advisory Solutions LLC increased its position in shares of PIMCO High Income Fund by 28.2% during the fourth quarter. Integrity Advisory Solutions LLC now owns 16,832 shares of the investment management company’s stock worth $82,000 after purchasing an additional 3,707 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in PIMCO High Income Fund by 19.5% in the 4th quarter. Moors & Cabot Inc. now owns 24,500 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 4,000 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in PIMCO High Income Fund by 3.5% in the 2nd quarter. Baird Financial Group Inc. now owns 178,530 shares of the investment management company’s stock valued at $832,000 after purchasing an additional 6,021 shares in the last quarter. Integrity Alliance LLC. boosted its stake in PIMCO High Income Fund by 43.2% during the 4th quarter. Integrity Alliance LLC. now owns 25,565 shares of the investment management company’s stock worth $124,000 after purchasing an additional 7,707 shares during the last quarter. Finally, Highland Investment Advisors LLC acquired a new stake in PIMCO High Income Fund during the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

PIMCO High Income Fund Trading Down 1.3%

PIMCO High Income Fund stock traded down $0.06 during midday trading on Tuesday, reaching $4.29. The company had a trading volume of 1,441,520 shares, compared to its average volume of 861,929. PIMCO High Income Fund has a 12-month low of $4.27 and a 12-month high of $5.00. The firm’s fifty day simple moving average is $4.59 and its 200-day simple moving average is $4.62.

PIMCO High Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.048 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%.

About PIMCO High Income Fund

PIMCO High Income Fund (NYSE: PHK) is a closed-end management investment company advised by Pacific Investment Management Company LLC (PIMCO). The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in a diversified portfolio of income-producing debt securities. These investments may include below-investment-grade corporate bonds, commonly known as high-yield or “junk” bonds, as well as other fixed-income instruments issued by companies and governments in the United States and international markets.