PCM Fund (NYSE:PCM) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of PCM Fund Inc. (NYSE:PCM) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.86 and traded as low as $7.68. PCM Fund shares last traded at $7.71, with a volume of 23,523 shares trading hands.

PCM Fund Price Performance

The business’s 50-day moving average is $8.06 and its two-hundred day moving average is $7.86.

PCM Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, December 12th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 12.45%. The ex-dividend date is Thursday, December 12th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PCM Fund stock. Horizon Kinetics Asset Management LLC increased its holdings in shares of PCM Fund Inc. (NYSE:PCM) by 64.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,252 shares of the investment management company’s stock after purchasing an additional 15,720 shares during the period. Horizon Kinetics Asset Management LLC owned approximately 0.34% of PCM Fund worth $322,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.26% of the company’s stock.

PCM Fund Company Profile

PCM Fund Inc is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities.