Pcm Fund (NYSE:PCM) to Issue Monthly Dividend of $0.06

Pcm Fund (NYSE:PCM) announced a monthly dividend on Tuesday, September 1st. Investors of record on Friday, September 11th will be given a dividend of 0.0642 per share by the investment management company on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 14.5%. The ex-dividend date is Friday, September 11th.

Pcm Fund Stock Performance

Shares of PCM opened at $5.32 on Wednesday. The company has a 50 day moving average of $5.60 and a two-hundred day moving average of $5.71. Pcm Fund has a twelve month low of $5.22 and a twelve month high of $6.76.

Institutional Investors Weigh In On Pcm Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC acquired a new position in shares of Pcm Fund during the fourth quarter valued at about $1,849,000. Guggenheim Capital LLC raised its holdings in shares of Pcm Fund by 33.4% in the fourth quarter. Guggenheim Capital LLC now owns 289,786 shares of the investment management company’s stock worth $1,779,000 after buying an additional 72,482 shares during the last quarter. Concord Investment Counsel Inc. purchased a new stake in shares of Pcm Fund during the second quarter valued at $358,000. Landscape Capital Management L.L.C. purchased a new position in Pcm Fund in the 2nd quarter worth $322,000. Finally, Arlington Capital Management Inc. acquired a new stake in Pcm Fund during the 1st quarter worth about $328,000. 10.26% of the stock is currently owned by hedge funds and other institutional investors.

About Pcm Fund

PCM Fund, Inc (NYSE: PCM) is a diversified, closed-end management investment company incorporated in the United States. Since its inception in 1989, the Fund has sought to deliver a high level of current income and pursue capital preservation. Shares of PCM Fund trade on the New York Stock Exchange, offering investors access to a professionally managed portfolio of fixed income securities through a single, publicly traded vehicle.

The Fund’s investment strategy focuses on mortgage-related securities, with a core allocation to agency mortgage-backed securities (MBS) issued or guaranteed by U.S.