Short Interest in PIMCO High Income Fund (NYSE:PHK) Grows By 67.5%

PIMCO High Income Fund (NYSE:PHK) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 719,172 shares, an increase of 67.5% from the November 30th total of 429,432 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 679,501 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 679,501 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.4% of the shares of the company are sold short.

Hedge Funds Weigh In On PIMCO High Income Fund

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in PIMCO High Income Fund by 7.4% during the third quarter. Bank of America Corp DE now owns 1,030,933 shares of the investment management company’s stock valued at $5,144,000 after purchasing an additional 70,674 shares in the last quarter. Raymond James Financial Inc. increased its position in PIMCO High Income Fund by 5.5% in the third quarter. Raymond James Financial Inc. now owns 190,058 shares of the investment management company’s stock worth $948,000 after buying an additional 9,962 shares in the last quarter. Invesco Ltd. raised its stake in shares of PIMCO High Income Fund by 4.3% in the third quarter. Invesco Ltd. now owns 1,279,467 shares of the investment management company’s stock worth $6,385,000 after buying an additional 53,263 shares during the period. UBS Group AG raised its stake in shares of PIMCO High Income Fund by 11.5% in the third quarter. UBS Group AG now owns 1,158,962 shares of the investment management company’s stock worth $5,783,000 after buying an additional 119,350 shares during the period. Finally, New England Private Wealth Advisors LLC lifted its position in shares of PIMCO High Income Fund by 195.6% during the 3rd quarter. New England Private Wealth Advisors LLC now owns 44,347 shares of the investment management company’s stock valued at $221,000 after buying an additional 29,347 shares in the last quarter. 11.75% of the stock is owned by institutional investors.

PIMCO High Income Fund Stock Up 0.1%

PHK stock traded up $0.01 during midday trading on Friday, reaching $4.85. 448,918 shares of the company’s stock traded hands, compared to its average volume of 604,082. PIMCO High Income Fund has a 52-week low of $4.18 and a 52-week high of $5.04. The stock’s 50-day moving average is $4.85 and its 200 day moving average is $4.87.

PIMCO High Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be given a dividend of $0.048 per share. The ex-dividend date of this dividend is Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%.

PIMCO High Income Fund Company Profile

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.