Pcm Fund (NYSE:PCM – Get Free Report) announced a monthly dividend on Monday, November 2nd. Investors of record on Friday, November 13th will be paid a dividend of $0.0642 per share by the investment management company on Tuesday, December 1st. This represents a $0.77 annualized dividend and a yield of 15.5%. The ex-dividend date of this dividend is Friday, November 13th.
Pcm Fund Price Performance
Shares of PCM stock traded up $0.01 during trading hours on Tuesday, reaching $4.96. The company had a trading volume of 74,002 shares, compared to its average volume of 54,406. The stock has a fifty day moving average of $5.07 and a 200-day moving average of $5.59. Pcm Fund has a 12-month low of $4.83 and a 12-month high of $6.39.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC increased its holdings in Pcm Fund by 59.3% in the 1st quarter. Rivernorth Capital Management LLC now owns 479,504 shares of the investment management company’s stock valued at $2,738,000 after purchasing an additional 178,434 shares during the last quarter. Concord Investment Counsel Inc. acquired a new position in Pcm Fund during the second quarter worth $358,000. Landscape Capital Management L.L.C. acquired a new position in Pcm Fund during the second quarter worth $322,000. Finally, Arlington Capital Management Inc. acquired a new position in Pcm Fund during the first quarter worth $328,000. Hedge funds and other institutional investors own 10.26% of the company’s stock.
About Pcm Fund
PCM Fund, Inc is a closed-end investment fund that focuses primarily on commercial mortgage-backed securities and other mortgage-related investments. Through a portfolio of fixed-income assets, the fund seeks to generate current income while also providing the potential for capital appreciation.
The fund’s investments may include securities backed by pools of commercial real estate loans, as well as other debt instruments and structured products related to the commercial property market.
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